Grain prices rise Wednesday

Grain futures closed higher on the Chicago Board of Trade Wednesday with hot, dry weather continuing to affect yield expectations. Corn was up 11 1/4 to up 15 1/2, soybeans were up 25 1/4 to up 44 1/2, wheat was up 7 1/2 to up 18 1/4, oats were up 2 1/4 to up 3 1/4. Corn prices rose with temperatures above 95 degrees Fahrenheit expected in the central and western Corn Belt. Wheat futures rose modestly in sympathy with corn and a report that said Russian exports would decline to 10 million metric tons for the current crop season. Soybeans also look to be stressed by continued hot weather, although light showers are expected in northern sections of Illinois and Indiana this week. The prices: Corn: Sep 7.95 up 15 1/2, Dec 7.84 1/4 up 13, Mar 7.83 1/4 up 11 1/2, May 7.79 3/4 up 11 1/4. Soybeans: Aug 16.83 1/2 up 44 1/2, Sep 16.48 up 35 1/4, Nov 16.20 up 29 1/2, Jan 16.11 1/4, up 25 1/4. Wheat: Sep 9.03 1/4 up 18 1/4, Dec 9.12 1/2 up 15 1/4, Mar 9.16 1/2 up 13 1/2, May 8.97 up 7 1/2. Oats: Sep 3.80 up 2 1/4, Dec 3.83 1/2 up 3 1/4, Mar 3.88 1/4 up 3, May 3.93 3/4 up 3.