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Corn, wheat close sharply higher

Updated: 06/04/2012 @ 1:36pm

DES MOINES, Iowa (Agriculture.com)--Just as they started, the CME Group corn and wheat prices settled sharply higher Monday.

The July corn futures settled 16 1/2 cents higher at $5.68, while the Dec. contract finished 12 cents higher at $5.22. The July soybean contract finished 4 3/4 cents lower $13.39 1/2, while the Nov. 2012 contract settled 11 cents higher at $12.69. The July wheat futures closed 16 1/4 cents higher at $6.28 1/2. July soyoil futures ended down $0.29 lower at $48.30. The July soymeal futures finished $1.80 per short ton higher at $396.30. 
In the outside markets, the NYMEX crude oil is $0.55 per barrel higher, the dollar is lower and the Dow Jones Industrials are down 18 points.

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