CBOT Closing Comments


CBOT May soybeans settled 14 cents higher at USD.59 a bushel. It was the same old story for beans. A weaker dollar, firmer crude oil and technical problems in South America helped push price higher. Weather concerns in Southern Brazil might take some of the shine off yields.


May corn ended up 7 1/4 cents at USD3.74 per bushel and July corn closed up 7 1/2 cents at USD3.85 1/4. Corn gained from continued worries over spring plantings and a weaker dollar and firm crude oil.


CBOT May wheat finished up 9 cents at USD4.96; KCBT May wheat ended 7 1/2 cents higher at USD5.02 1/4, and MGE May wheat was up 6 3/4 cents at USD5.20 1/4. Large spec shorts are maybe the main factor why wheat futures can close sharply higher for little apparent reason.