Weather presses on grain prices Monday

Chicago -- Weather concerns pressured U.S. grain prices Monday, including a report of continued dry weather in Australia's province New South Wales.

Corn was off 3 3/4 to off 4 1/4; soybeans were off 27 1/4 to off 45; wheat was up 15 1/4 to up 16; oats were off 1/2 to off 3.

Corn traded lower Monday on warm, dry weather expected in the Midwest. Wheat prices gained on dry conditions in Australia. Soybean prices fell on beneficial weather indicating an improved crop with planting expected to pick up on the short term.

The prices:
Corn: Jul 5.86 3/4, off 4 1/4; Sep 5.99 1/4, off 4 1/4; Dec 6.13, off 3 3/4; Mar 6.25 1/2, off 3 3/4.

Soybeans: Jul 13.33, off 45; Aug 13.36 3/4, off 43 1/2; Sep 13.23 3/4, off 35 1/2; Nov 13.22, off 27 1/4.

Wheat: Jul 7.91, up 15 1/2; Sep 8.05 3/4, up 15 3/4; Dec 8.25, up 15 1/4; Mar 8.42 1/2, up 16.

Oats: Jul 3.91, off 3; Sep 4.02, off 3; Dec 4.17, off 2 /12; Mar 4.33 1/2, off 1 1/2.

Copyright 2008 by United Press International.