facebook
twitter
search
search

Grain futures close higher Monday

April 30, 2012 at 4:13 PM

CHICAGO, April 30 (UPI) -- Funds set the tone on the Chicago Board of Trade Monday with buying that sparked a late rally, offsetting a bearish crop progress report.

Corn was up 4 1/2 to up 9 3/4, soybeans were up 6 1/4 to up 17, wheat was up 3 3/4 to up 5 1/2 and oats were up 1 to up 3 3/4.

Funds bought 10,000 corn contracts, 50 million bushels, which offset a crop progress report showing 28 percent of the corn crop planted, compared with a historic average of 15 percent for this time of year.

Farmers report 42 percent of the winter wheat crop has headed out, compared to a five-year average of 15 percent, which kept gains in wheat prices in check. The U.S. Department of Agriculture said 6 percent of the soybean crop is planted, ahead of averages. Outside forces also kept gains muted for soybeans Monday.

The prices:

Corn: May 6.60 1/4 up 7 1/4, Jly 6.34 1/4 up 8 3/4, Sep 5.60 3/4 up 9 3/4, Dec 5.43 1/4 up 4 1/2.

Soybeans: May 15.03 up 6 1/4, Jly 15.05 1/2 up 12, Aug, 14.83 3/4 up 17, Sep 14.24 1/2 up 14 1/2.

Wheat: May 6.47 3/4 up 5 1/2, Jly 6.54 1/2 up 4 1/2, Sep 6.66 1/2 up 3 3/4, Dec 6.88 up 3 3/4.

Oats: May 3.36 3/4 up 1, Jly 3.45 1/2 up 3 3/4, Sep 3.48 up 3 1/4, Dec 3.52 up 2 1/2.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
Volvo unveils new child seat concept
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue
U.S. proposes tighter pipeline spill rules