CHICAGO, Sept. 26 (UPI) -- Corn, wheat and soybeans closed modestly higher in Chicago Monday with dry weather expected to help the fall harvest and the dollar index off 0.24 percent.
Corn was up 9 1/4 to up 9 1/2, soybeans were up 1/2 to up 2 1/4, wheat was up 6 1/4 to up 8 and oats were off 1 1/2.
Dry weather supplied downward pressure on corn prices, which nonetheless gained on the Chicago Board of Trade with the dollar weaker. Prices started low after sharp declines in the previous trading week.
Wheat prices regained some territory lost last week although rain in Argentina put brakes on the rally. In the soybean market, traders took note of a Department of Agriculture report that said the harvest is about 15 percent complete, indicating harvest pressure is weighing on prices. Harvest pressure describes the downward influence filling grain storage units has on prices.
The prices:
Corn: Dec 6.48 up 9 1/2, Mar 6.61 1/4 up 9 1/4, May 6.68 3/4 up 9 1/4, Jly 6.72 3/4 up 9 1/4.
Soybeans: Nov 12.59 3/4 up 1 3/4, Jan 12.71 1/4 up 2 1/4, Mar 12.78 up 1 1/2, May 12.82 3/4 up 1/2.
Wheat: Dec 6.48 1/4 up 7 1/2, Mar 6.83 1/4 up 8, May 6.99 1/2 up 6 3/4, Jly 7.04 1/4 up 6 1/4.
Oats: Dec 3.30, Mar 3.41, May 3.58 1/2, Jly 3.54 1/2 -- all off 1 1/2.
