Grains locked limit-up in early trading
Corn, soybeans and wheat started Friday's trade locked limit-up after USDA released sharply bullish Crop Production numbers earlier in the morning.
At the open, nearby corn jumped to $5.28 1/4 per bushel, up the 30-cent daily trading limit that triggers the lock, while nearby soybeans locked up at $11.35 per bushel, up the 70-cent limit. Nearby wheat is $7.19 1/4 per bushel, up the 60-cent limit.
Friday's USDA report trimmed yields for both U.S. corn and soybeans, fueling the big-time bullish move in the trade that analysts say should have some staying power through the remainder of fall, into the winter and possibly up until the planters roll next spring.
- See more: USDA 'lets the bulls loose'
- Acreage battle, wheat & basis: Discuss it all in Marketing Talk
- See how prices are responding