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Grain Futures Trade Higher
Friday, 29-May-2009 4:05PM United Press International
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CHICAGO, May 29 (UPI) -- Grain futures closed higher on the Chicago Board of Trade Friday, while stock markets rose slightly and oil prices gained on the New York Mercantile Exchange.

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Corn was up 5 3/4 to up 7 1/2, soybeans were up 5 to up 9 1/2, wheat was up 6 3/4 to up 7 1/4 and oats were up 1.

The International Grain Council estimates Friday pegged 2009/2010 corn yields to fall 7 million metric tons to 771 million. Wheat futures closed higher as yields and conditions in the Southern Plains appear to be deteriorating. Cumulative soybean sales were ahead of their five-year averages for the year, the U.S. Department of Agriculture said.

The prices on futures contracts:

Corn: Jul 4.36 1/4, up 7 1/2; Sep 4.46 1/4, up 7 1/4; Dec 4.59 1/4, up 7; Mar 4.69 1/4, up 5 3/4.

Soybeans: Jul 11.84, up 5; Aug 11.48 1/2, up 8; Sep 10.96 1/2, up 8 1/2; Nov 10.62 1/2, up 9 1/2.

Wheat: Jul 6.37 1/4, up 6 3/4; Sep 6.63 3/4, up 7; Dec 6.86, up 7 1/4; Mar 7.01 1/2, up 7 1/4.

Oats: 2.51, up 1; Sep 2.60 1/2, up 1; Dec 2.70 3/4, up 1; Mar 2.84 3/4, up 1.

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