Wheat futures increased a price spread against corn and soybeans Wednesday on the Chicago Board of Trade, with crop conditions in Australia coming into play.
Corn was up 5 to up 7, soybeans were up 2 1/4 to up 2 3/4, wheat was up 16 1/4 to up 18 1/2 and oats off 2 1/2 to up 13 1/4.
Corn prices rose modestly for the third consecutive trading session supported by overnight weakness in the dollar on a light trading day close to the Christmas break. Wheat futures rose on reports of dry conditions in eastern Australia, as Tunisia issued two wheat tenders for a total of 50,000 metric tons. Soybean futures found support from an announced sale of 110,000 metric tons to China.
The prices:
Corn: Mar 6.09 up 6 3/4, May 6.17 up 6 3/4, Jly 6.21 1/4 up 7, Sep 5.73 1/4 up 5.
Soybeans: Jan 13.28 3/4 up 2 1/2, Mar 13.39 3/4 up 2 1/4, May 13.46 3/4 up 2 1/4, Jly 13.49 up 2 3/4.
Wheat: Mar 7.83 1/2 up 18 1/2, May 8.09 3/4 up 17 1/4, Jly 8.22 1/2 up 16 1/4, Sep 8.36 1/4 up 16 1/4.
Oats: Mar 3.91 3/4 off 2 1/2, May 3.95 1/2 off 3, Jly 3.96 1/2 off 5, Sep 3.51 1/2 up 13 1/4.
