Weather breaks hit grain prices

CHICAGO, May 14 (UPI) -- Corn, wheat and rice traded lower Wednesday on the Chicago Board of Trade as forecasts for drier spring weather could allow corn planting to hit its stride.

Corn was off 7 3/4 to off 11 1/4; soybeans were off 3 1/2 to up 4 1/4; wheat was off 24 1/2 to off 31 3/4; oats were unchanged to off 3 1/2.

Corn traded lower on forecasts of drier weather expected in the western half of the corn belt. Wheat trading broke early, with expectations that spring wheat planting will be completed next week. Soybeans traded mixed to high as successful corn planting will shrink available acreage for soybeans.

The prices:

Corn: May 5.89 3/4, off 7 3/4; Jul 5.96 1/4, off 11; Sep 6.08 1/4, off 11 1/4; Dec 6.20 1/2, off 10 1/2.

Soybeans: May 13.71, off 3 1/2; Jul 13.79 1/2, unchanged; Aug 13.76 1/2, up 2; Sep 13.49, up 4 1/4.

Wheat: May 7.61, off 24 1/2; Jul 7.64, off 31 3/4; Sep 7.78 1/4, off 31 3/4; Dec 7.99 1/4, off 31 1/2.

Oats: May 4.05, unchanged; Jul 4.07 1/2, off 3 1/2; Sep 4.18, off 3 1/2; Dec 4.33 1/2, off 3.