CHICAGO, May 20 (UPI) -- Grains were sharply higher on the Chicago Board of Trade Tuesday as crop conditions indicated possible yield declines for 2008.
Corn was up 3 to up 3 1/4; soybeans were off 1 1/2 to up 3 3/4; wheat was off 6 to off 7; oats were up 1 1/2 to up 3.
Slow corn planting continued to lift corn prices Tuesday. Wheat sustained a rally on the weekly U.S Department of Agriculture Crop Progress report, indicating adverse conditions. Soybeans eased back, although India announced it would increase orders for soy oil.
The prices:
Corn: Jul 5.89 3/4, up 3; Sep 6.02 1/4, up 3; Dec 6.16, up 3; Mar 6.28 3/4, up 3 1/4.
Soybeans: Jul 13.31 1/2, off 1 1/2; Aug 13.34 1/4, up 1/2; Sep 13.26 1/4, up 2 1/2; Nov 13.25 3/4, up 3 3/4.
Wheat: Jul 7.84, off 7; Sep 7.99, off 6 3/4; Dec 8.18 1/2, off 6 1/2; Mar 8.36 1/2, off 6.
Oats: Jul 3.94, up 3; Sep 4.05, up 3; Dec 4.20, up 3; Mar 4.35, up 1 1/2.