Grains mixed in Chicago as crude oil rises

Chicago -- Grains traded mixed on the Chicago Board of Trade Wednesday as crude oil prices surged in New York.

Corn was up 7 1/2 to up 7 3/4, soybeans were up 9 1/4 to up 14 1/2, wheat was off 4 to off 4 1/4 and oats were off 1 to up 1 3/4.

Corn traded higher as crude oil prices reversed a downward trend with a $5.06 surge to $126.97 per barrel. Wheat prices eased as global supplies remain strong during a U.S. harvest. Hot weather helped lift soybean futures, traders said.

The prices:

Corn: Sep 6.01 1/2, up 7 1/2; Dec 6.21 1/4, up 7 3/4; Mar 6.41 1/4, up 7 3/4; May 6.53 1/4, up 7 3/4.

Soybeans: Aug 13.94, up 9 3/4; Sep 13.95 1/2, up 9 1/4; Nov 14.05, up 14; Jan 14.22 3/4, up 14 1/2.

Wheat: Sep 7.87 3/4, off 4 1/4; Dec 8.12 1/2, off 4; Mar 8.35 3/4, off 4; May 8.49 3/4, off 4.

Oats: Sep 3.85, off 1; Dec 4.04 1/2, up 1/4; Mar 4.23 1/2, up 3/4; May 4.36 1/2, up 1 3/4.

Copyright 2008 by United Press International.