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You are here:  Home / Business News / Grains' rally fades to finish Tuesday

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Grains' rally fades to finish Tuesday

Published: May 6, 2008 at 7:27 PM
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CHICAGO, May 6 (UPI) -- Grains rallied early on the Chicago Board of Trade Tuesday, with corn and wheat peaking with new highs at midday, before tailing off by close.

Corn was up 10 3/4 to up 12 3/4; soybeans were off 5 to off 9; wheat was up 12 1/4 to up 13 1/2; and oats were up 9 1/2 to up 10.

Corn support came from a rally in crude oil, but the tandem lift broke apart at midday with corn ending near the starting point. Wheat hit new highs in the morning with heavy volumes traded. Soybeans traded lower with new crop November soybeans gaining on old crop July contracts.

The prices:

Corn: May 5.94 3/4, up 12 3/4; Jul 6.06 1/4, up 12 1/4; Sep 6.16, up 11 1/2; Dec 6.23, up 10 3/4.

Soybeans: May 12.64 1/2, off 8 1/2; Jul 12.77, off 9; Aug 12.70, off 8 1/2; Sep 12.42 1/2, off 5.

Wheat: May 8.06, up 13 1/2; Jul 8.18, up 12 1/2; Sep 8.32, up 12 1/4; Dec 8.52 3/4, up 13.

Oats: May 4.08 1/2, up 9 1/2; Jul 4.19 1/2, up 9 1/2; Sep 4.31, up 10; Dec 4.44 1/2, up 9 1/2.


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