CHICAGO (AP) — Grains futures shot higher Thursday on the Chicago Board of Trade. The U.S. Agriculture Department estimated that the fall harvest won’t yield as much corn as first estimated. A tighter supply means higher prices.
Corn for December delivery jumped 25.5 cents to $7.14 a bushel. Wheat for September delivery gained 16.25 cents to $7.0125 a bushel; November soybeans climbed 30.25 cents to $13.3175 a bushel; and December oats rose 3.5 cents to $3.545 a bushel.
Beef and pork futures also rose on the Chicago Mercantile Exchange.
October live cattle gained 2.07 cents to $1.1952 a pound; September feeder cattle rose 1.20 cent to $1.3630 a pound; while October lean hogs added 1.25 cent to 88.10 cents a pound.