Dry weather pushing CBOT prices higher

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CHICAGO, July 16 (UPI) -- Corn, soybeans and wheat climbed sharply higher on the Chicago Board of Trade Monday as weather forecasts warn a continued lack of rain threatens crops.

Corn was unchanged to up 37 1/2, soybeans were unchanged to up 36 1/4, wheat was up 27 3/4 to up 36 1/4, oats were unchanged.

Dry weather through the western Corn Belt looked to stress corn plants further. Traders expect a late-afternoon crop report to lower by up to 5 percent the number of acres in corn, wheat and soybeans considered in good to excellent condition.

The prices:

Corn: Jly 7.93 1/4 up 37 1/2, Sep 7.78 up 37 1/2, Dec 7.76 1/2 up 36 1/4, Mar 7.41 3/6 unchanged.

Soybeans: Jly 16.78 1/4 up 36 1/4, Aug 16.28 1/4 up 33 1/2, Sep 16.05 1/2 up 35 1/2, Nov 15.52 1/2 unchanged.

Wheat: Jly 8.78 1/4 up 36 1/4, Sep 8.82 1/4 up 34 1/2, Dec 8.95 1/2 up 33, Mar 8.99 3/4 up 27 3/4.

Oats: Jly 3.65 1/4, Sep 3.72 1/4, Dec 3.74 1/2, Mar 3.79 -- all unchanged.