US grain, soy bounce with outside markets
Weakness in the dollar, higher crude oil and precious metal futures rekindle buying interest amid ideas last week's declines were overdone. Wheat futures led the advances, as the threat of further winter wheat production losses in the plains due to warm, dry weather buoyed prices.
Otherwise, futures garnered additional support from traders covering some recently sold positions ahead of Wednesday's USDA crop reports. CBOT July wheat was up 17 1/4c at $7.76 3/4 a bushel, July corn was up 10 1/4c at $6.96 1/2, and July soybeans were up 8 1/2c at $13.34 1/2. (firstname.lastname@example.org)
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(END) Dow Jones Newswires
May 09, 2011 08:46 ET (12:46 GMT)