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Nov. 9, 2010, 10:04 a.m. EST Grains trade at highest in more than two years

Grains futures surged Tuesday after the U.S. Department of Agriculture cut its estimate for the U.S. soybean harvest. Soybeans for January delivery, the most active contract, added 70 cents, or 5.5%, to $13.45 a bushel, its highest in more than two years. Wheat and corn followed suit, with December corn up 30 cents, or 5.1%, to $6.15 per bushel, corn's highest also since mid-2008. Wheat for December delivery added 60 cents, or 8.2%, to $7.96 a bushel, wheat's highest since mid-2008. The USDA estimated soybean production to hit 3.375 billion bushels, 1% lower from its estimate in October. Read more at www.marketwatch.com

 

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