date:Oct 12, 2012
Corn and soybean prices rallied Thursday after the U.S. government projected tighter supplies than analysts had expected for the two commodities.
Chicago Board of Trade December corn futures settled up 36 1/2 cents, or 5.0%, at $7.73 1/4 a bushel, reaching a one-month closing high. November soybeans rose 25 1/4 cents, or 1.7%, to $15.48 1/2 a bushel.
The U.S. Department of Agriculture Thursday boosted its estimate for the size of this fall's soybean harvest, but it also predicted that the extra