CBOT Closing Comments

CBOT grains closed sharply higher led by soaring crude oil and a heavily weaker dollar.

The great US bailout is seen ending the dollar's three month rally, which may in turn lead to US grains becoming more competitive on the export arena.

November crude leaped $7/barrel yesterday on hopes that the rescue plan would improve the outlook for energy demand. Expiring October, which traded $25 higher, settled up 16 percent at $120.92/barrel. Yes, you did read that correctly!

Corn closed around 16-18c firmer, wheat around 20c higher and soybeans up 61 1/2 to their 70c limit on deferred months.