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You are here:  Home / Business News / Wheat lower, corn up in Chicago Wednesday

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Wheat lower, corn up in Chicago Wednesday

Published: May 7, 2008 at 5:50 PM
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CHICAGO, May 7 (UPI) -- Yield concerns sent wheat lower and corn higher on the Chicago Board of Trade Wednesday.

Slow corn planting may be hampered by continued rain forecast in the corn belt, although Turkey announced a second tender for 150,000 metric tons. Beneficial rain fell on drier areas of the hard red wheat belt, while Germany announced a bumper wheat crop is expected. Soybeans traded higher on rumors the farmers strike in Argentina may resume soon.

The prices:

Corn: May 6.01 1/2, up 6 3/4; Jul 6.13, up 6 3/4; Sep 6.22 3/4, up 6 3/4; Dec 6.30 1/2, up 7.

Soybeans: May 12.92 1/4, up 32 3/4; Jul 13.09, up 32; Aug 13.01 1/4, up 31 1/4; Sep 12.73 1/2, up 31.

Wheat: May 7.95, off 11; Jul 8.07 1/2, off 10 1/2; Sep 8.21 3/4, off 10 1/4; Dec 8.42 1/2, off 10 1/4.

Oats: May 4.05, off 3 1/2; Jul 4.15 1/2, off 4; Sep 4.26 1/2, off 4 1/2; Dec 4.40, off 4 1/2.



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