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U.S. markets recover from steep losses
CHICAGO, Feb. 22 (UPI) -- Corn, wheat and soybean futures rose Wednesday despite the dollar index rising 0.15 percent and equities sluggish for the second consecutive day.
Corn was up 3 to up 8 3/4, soybeans were up 1 to up 1 3/4, wheat was up 8 1/4 to up 11 1/2 and oats were off 1 1/4 to off 5.
General economic optimism is supporting commodity markets with gold and oil gaining through the week. Corn prices rose with the easing of lending restrictions in China that will support demand. Tunisia Wednesday issued a tender for 50,000 metric tons of soft wheat. Bangladesh has issued a tender for the same amount. Soybean futures rose slightly as dry weather is forecast for growing areas of Brazil.
The prices:
Corn: Mar 6.38 1/4 up 8 3/4, May 6.41 1/4 up 7 3/4, Jly 6.44 1/4 up 6 3/4, Sep 5.94 3/4 up 3.
Soybeans: Mar 12.72 1/4 up 1 1/4, May 12.78 3/4 up 1 3/4, Jly 12.86 1/2 up 1 1/2, Aug 12.80 1/2 up 1.
Wheat: Mar 6.44 1/2 up 11 1/2, May 6.45 3/4 up 9, Jly 6.60 up 8 1/2, Sep 6.78 1/4 up 8 1/4.
Oats: Mar 3.19 1/4 off 1 1/4, May 3.12 1/4 off 5, Jly 3.12 1/4 off 4, Sep 3.15 off 5.
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