Grains mostly up as hot weather moves in

Published: July 28, 2008 at 8:34 PM

CHICAGO, July 28 (UPI) -- Grains trading edged up on the Chicago Board of Trade Monday as hot, dry weather put upward pressure on soybeans and corn.

Corn was up 4 3/4 to up 5, soybeans were up 1 1/2 to up 9 1/2, wheat was off 11 to off 13 1/4 and oats were up 5 to up 5 1/2.

Corn traded higher as pollination looked to be about 7-10 days behind historic averages. Wheat tracked lower with year-to-date exports at a strong pace. Pressure on soybean prices came from dry Delta conditions with dry areas dry areas of India receiving heavy rains in the Sunday and Monday.

The prices:

Corn: Sep 5.82 , up 4 3/4; Dec 6.01 1/4, up 4 3/4; Mar 6.20 3/4, up 4 3/4; May 6.33, up 5.

Soybeans: Aug 14.00 1/4, up 1 1/2; Sep 13.96 1/4, up 7 3/4; Nov 13.96, up 9 1/2; Jan 14.13, 1/4 up 9 1/4.

Wheat: Sep 7.97 3/4, off 13 1/4; Dec 8.21 3/4, off 12 3/4; Mar 8.43 3/4, off 11 1/4; May 8.57 1/4, off 11.

Oats: Sep 3.89, up 5; Dec 4.07, up 5 1/2; Mar 4.26, up 5 1/2; May 4.38, up 5 1/2.

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