Grains close higher in Chicago

Corn was up 20 1/4 to up 21 1/2, soybeans were up 12 3/4 to up 17 1/2, wheat was up 2 1/2 to up 3 3/4 and oats were up 7.

Corn futures surged on the Chicago Board of Trade with two sales announced Monday, one to South Korea for 281,000 metric tons and one to Egypt for 120,000 metric tons. Iraq purchased 100,000 metric tons of wheat, the U.S. Department of Agriculture said. In the soybean market, the USDA announced sales of 20,000 metric tons to an unnamed buyer, as moderate buying by funds supported prices.
The prices:

Corn: Dec. 5.55 1/2, up 21 1/2; Mar 5.69, up 21; May 5.75 1/2, up 20 1/4; Jul 5.79 1/4, up 20 1/2.

Soybeans: Jan 12.86 1/2, up 17 1/2; Mar 12.93 3/4, up 16 3/4; May 12.90 1/2, up 13 3/4 ; Jul 12.90 1/2, up 12 3/4.

Wheat: Dec 6.72 3/4, up 3 1/2; Mar 7.12 1/2, up 3; May 7.35, up 2 1/2; Jul 7.48 1/2, up 3 3/4.

Oats: Dec 3.46 1/2; Mar 3.59; May 3.64 3/4, off 2 1/2l; Jul 3.70 -- all up 7.

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