Futures and Commodity Market News

Sun May 11, 2008

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CHICAGO, May 8, 2008 (UPI via COMTEX) -- Grains traded higher Thursday, although soybean prices tailed off with wheat before firming near the day's close on the Chicago Board of Trade

Corn was up 15 3/4 to up 17 1/4 ; soybeans were up 3/4 to up 2 3/4; wheat was up 13 3/4 to up 14 1/2; oats were off 1/2 to off 1.

Corn rallied with exports at ahead of the five-year average and rain continuing to slow planting in Corn Belt states. Wheat's rally broke off sharply in midday, a freeze is expected in the Plains, one forecaster said. Soybeans trading was also halted in Argentina Thursday as thousands of farmers vowed to block shipments to processors.

The prices:

Corn: May 6.18 3/4, up 17 1/4; Jul 6.30 1/4, up 17 1/4; Sep 6.39 3/4, up 17; Dec 6.46 1/4, up 15 3/4.

Soybeans: May 12.98 1/4, up 1; Jul 13.10, up 1; Aug 13.04, up 2 3/4; Sep 12.74 1/4, up 3/4.

Wheat: May 8.09, up 14; Jul 8.22, up 14 1/2; Sep 8.35 3/4, up 14; Dec 8.56 1/4, up 13 3/4.

Oats: May 4.04 1/2, off 1/2; Jul 4.14 1/2, off 1; Sep 4.25 1/2, off 1; Dec 4.40, unchanged.

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