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Corn Trades Lower On Weather And Congress
Monday, 30-Jun-2008 7:54PM United Press International
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CHICAGO, June 30 (UPI) -- Corn and wheat traded lower Monday on favorable weather and a request from 49 members of Congress to waive ethanol mandates.

SAVE MONEY ON TRAVEL DEALS

Corn was off 30; soybeans were up 14 1/2 to up 23 1/2; wheat was off 52 to off 53 3/4; and oats were up 8 3/4 to up 12.

Favorable weather prompted corn selling Monday, while Republican members of Congress sent a letter to the U.S. Environmental Protection Agency asking for a waiver from ethanol mandates. Wheat traded lower on clear weather for harvesting expected from Kansas to Ohio. Soybeans were up on revised U.S. Department of Agriculture estimates on the 2008 crop.

The prices:

Corn: Jul 7.24 3/4, off 30; Sep 7.37 3/4, off 30; Dec 7.57, off 30; Mar 7.73 3/4, off 30.

Soybeans: Jul 16.05, up 23 1/2; Aug 15.98, up 19; Sep 15.84, up 17 1/2; Nov 15.74, up 14 1/2.

Wheat: Jul 8.43 1/2, off 52; Sep 8.58 3/4, off 53 1/4; Dec 8.81 3/4, off 53 3/4; Mar 9.03, off 52 3/4.

Oats: Jul 4.44, up 12; Sep 4.56, up 10 1/4; Dec 4.73, up 8 3/4; Mar 4.89, up 8 3/4.

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