CHICAGO (AP) — Grains futures jumped Tuesday on the Chicago Board of Trade after the U.S. Agriculture Department said hot weather in several of the country’s biggest farm states was stressing crops. A smaller crop could drive up prices.
Wheat for September delivery soared 41.5 cents to $7.18 a bushel; December corn shot up 30 cents to $7.1575 a bushel; December oats rose 7 cents to $3.65 a bushel; while November soybeans climbed 17.75 cents to $13.7975 a bushel.
Meanwhile, beef and pork futures traded mixed on the Chicago Mercantile Exchange.
October live cattle rose 0.25 cent to $1.1805 a pound; September feeder cattle slid 2.12 cents to $1.3660 a pound; and October lean hogs shed 0.33 cent to 92.67 cents a pound.