CBOT prices surge Wednesday

Corn was up 8 1/2 to up 9 1/4, soybeans were up 2 1/2 to up 8 1/4, wheat was up 8 3/4 up to 12 1/2 and oats were up 6 to up 7 3/4.

Forecasts for hot weather in the Midwest and Europe and a lower dollar pushed corn higher and traders predicted the surge would last into August. Soybeans managed to hold on to most early morning gains sparked by gains in wheat along with forecasts for above-normal temperatures in the Midwest. December wheat hit its highest levels on forecasts for hot dry weather in Europe and a series of downgrades in various countries, along with a lower dollar that sparked fresh buying by funds and commission houses.

The prices:

Corn: Jly 3.75 1/4 up 8 1/2, Sep 3.84 1/4 up 9, Dec 3.96 1/4 up 9 1/4, Mar 4.08 up 8 3/4.

Soybeans: 10.36 up 5 1/2, Aug 9.97 1/2 up 2 1/2, Sep 9.56 1/4 up 8 1/4, Nov 9.62 up 7 1/2.

Wheat: Jly 5.48 1/4 up 12 1/2, Sep 5.59 up 9 3/4, Dec 5.88 1/4 up 10, Mar 6.10 e/r up 8 3/4.

Oats: Jly 2.54 1/4 up 7 3/4, Sep 2.59 up 6, Dec 2.65 1/2 up 6 1/2, Mar 2.72 up 7.

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