Grain futures soar, livestock prices drop

AP News
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Posted: May 18, 2011 3:52 PM
Grain futures soar, livestock prices drop

Grains futures soared Wednesday on the Chicago Board of Trade.

Wheat for July delivery jumped 53 cents to $8.17 a bushel; July corn gained 29.5 cents to $7.4975 a bushel; July oats gained 10 cents to $3.67 a bushel; while July soybeans climbed 38.5 cents to $13.795 a bushel.

Beef and pork futures dropped on the Chicago Mercantile Exchange.

August live cattle shed 0.13 cent to $1.0917 a pound; August feeder cattle slid 1.92 cent to $1.28 a pound; July lean hogs fell 1.47 cent to 91.55 cents a pound; while May pork bellies were unchanged at $1.2650 a pound.