facebook
twitter
rss
account
search
search
 

Grain futures soar on CBOT

April 27, 2012 at 3:59 PM   |   Comments

CHICAGO, April 27 (UPI) -- A large sell-off in the U.S. dollar, cold temperatures and buying by China sent grain futures soaring Friday on the Chicago Board of Trade.

Corn was up 2 1/2 to up 29, soybeans were up 7 3/4 to up 15 1/2, wheat was up 12 1/2 to up 16 1/4 and oats were up 1 1/4 to up 2 1/2.

Tight U.S. cash markets and active buying by China sent corn soaring. The USDA said the 1.56 million-ton sale was the biggest one-day sale since 1991. Temperatures in the 20s in Indiana also added to the positive tone. Soybeans rallied to a new contract high on strong cash sales and buying from China, despite continued concerns over the size of the South American crop. Wheat finished the week up 27 cents, finding support in corn and cold weather.

The prices:

Corn: May 6.53 up 29, Jly 6.25 1/2 up 18, Sep 5.51 up 2 1/2, Dec 5.38 3/4 up 3 3/4.

Soybeans: May 14.96 3/4 up 15 1/2, Jly 14.93 1/2 up 13 1/4, Aug, 14.66 3/4 up 13 1/2, Sep 14.10 up 7 3/4.

Wheat: May 6.42 1/4 up 16 1/4, Jly 6.50 up 14 1/2, Sep 6.62 3/4 up 14, Dec 6.84 1/4 up 12 1/2.

Oats: May 3.35 3/4 up 2, Jly 3.41 3/4 up 1 1/4, Sep 3.44 3/4 up 1 3/4, Dec 3.49 1/2 up 2 1/2.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover
2
Tony Hayward: Kurdish oil sector open for business Tony Hayward: Kurdish oil sector open for business
3
Textron's G-CLAW on target in live-fire demonstration Textron's G-CLAW on target in live-fire demonstration
4
Saab producing vehicle protection system for unidentified customer Saab producing vehicle protection system for unidentified customer
5
Norways Kongsberg to demo missile for U.S. Navy Norways Kongsberg to demo missile for U.S. Navy
Trending News
Video
x
Feedback