Grains sharply higher Wednesday

CHICAGO, Dec. 31 (UPI) -- Grains closed sharply higher on the Chicago Board of Trade Wednesday, in line with an upbeat day on Wall Street.

Corn was up 10 3/4 to up 11 1/4, soybeans were up 26 1/2 to up 27, wheat was up 5 to up 6 and oats were unchanged to up 1/4.

Corn closed higher on a day with few sellers and a general upswing in commodities. Wheat rallied on speculative buying, although traders said cash markets were quiet on a pre-holiday trading day. Soybean prices gained in spite of improved conditions for crops in Brazil that had been waiting for rain.

The prices:

Corn: Mar 4.07, up 10 3/4; May 4.17 3/4, up 11 1/4; Jul 4.28, up 11; Sep 4.38, up 11.

Soybeans: Jan 9.72 1/4, up 26 1/2; Mar 9.80, up 27; May 9.91 1/2, up 26 3/4; Jul 10.02 3/4, up 26 1/2.

Wheat: Mar 6.10 3/4, up 6; May 6.23 1/2, up 6; Jul 6.34, up 5 1/4; Sep 5.53 1/2, up 5.

Oats: Mar 2.10, unchanged; May 2.19 1/4, up 1/4; Jul 2.28 3/4, up 1/4; Sep 2.38 1/4, up 1/4.