Sunday, December 28, 2008

Agriculture Futures Trade Higher on the CBOT

Wheat, corn, oats, soybeans trade higher on the Chicago Board of Trade; livestock futures fall

Agriculture futures rise on the Chicago Board of Trade.
Wheat for March delivery gained 17 cents to $5.9925 a bushel; March corn rose 14.25 cents to $4.1225 a bushel; March oats advanced 12.25 cents to $2.31 a bushel; and March soybeans jumped 37.5 cents to $9.565 a bushel.
Meanwhile, beef and pork futures fell on the Chicago Mercantile Exchange. The U.S. Department of Agriculture on Friday posted to its Web site 30 U.S. meat plants from which Mexico suspended purchases Wednesday. Among those affected are a Plant City, Fla.-based Smithfield Packing Co. facility, Sioux Falls, South Dakota-based John Morrell & Co. and a number of Iowa-based Tyson Fresh Meats Inc. plants.

February live cattle lost 2.22 cents to 86.1 cents a pound; March feeder cattle fell 2.8 cents to 91.75 cents a pound; February lean hogs were down 1.9 cents to 58.95 cents a pound; and February pork bellies slipped 1.15 cents to 88.45 cents a pound.

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