CHICAGO, June 25 (UPI) -- Grain futures soared on the Chicago Board of Trade as weather forecasts call for return to hot weather, which could stress corn and other crops.
Corn was up 40, soybeans were up 40 1/4 to up 50, wheat was up 51 to up 53 1/2 and oats were up 20.
Traders expect a weekly crop report to show declining acres of corn considered in good or excellent condition. Wheat prices also jumped as the Russia Agriculture Ministry forecast a 2012 yield forecast of up to 49 million metric tons, which was lower than the most recent U.S. Department of Agriculture prediction.
Soybean futures rose with the USDA reporting a sale of 120,000 metric tons to China.
The prices:
Corn: Jly 6.31, Sep 5.91 1/4 , Dec 5.94 , Mar 6.05 -- all up 40.
Soybeans: Jly 14.82 3/4 up 40 1/4, Aug 14.67 1/4 up 41 1/4, Sep 14.40 up 45 3/4, Nov 14.25 1/2 up 50.
Wheat: Jly 7.24 1/4 up 51, Sep 7.41 up 53 1/2, Dec 7.59 1/4 up 52 1/2, Mar 7.75 1/4 up 51 1/2.
Oats: Jly 3.48 3/4, Sep 3.24, Dec 3.17, Mar 3.22 -- all up 20.
