Grains higher Tuesday in Chicago

Grains closed higher on the Chicago Board of Trade Tuesday as stocks surged in New York and the dollar lost ground against the euro and the yen.

Corn was up 9 1/2 to up 10 1/2, soybeans were up 8 to up 14 1/2, wheat was up 9 1/2 to up 9 3/4 and oats were up 4 1/4 to up 5 1/4.

Corn prices were supported by recent talk in Washington on increasing ethanol mandates. Wheat rose although China reported beneficial rain forecast for its winter wheat belt. Soybeans traders anticipate a Supply and Demand Report will list soybean stocks at 200 million bushels.

The prices:

Corn: Mar 3.66 3/4, up 9 1/2; May 3.75 1/2, up 10; Jul 3.85 1/2, up 10 1/4; Sep 3.94 1/2, up 10 1/2.

Soybeans: Mar 8.89, up 8; May 8.77, up 12; Jul 8.76 3/4, up 13 3/4; Aug 8.65 1/2, up 14 1/2.

Wheat: Mar 5.22 3/4, up 9 3/4; May 5.32 3/4, up 9 1/2; Jul 5.44 3/4, up 9 1/2; Sep 5.69 1/4, up 9 1/2.

Oats: Mar 1.81, up 5 1/4; May 1.88 1/2, up 4 1/4; Jul 1.97 1/2, up 4 1/4; Sep 2.06 1/2, up 4 1/4.