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Wheat Prices Surge by Maximum Limit

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[November 23, 2007]  CHICAGO (AP) -- Wheat prices surged Wednesday on the Chicago Board of Trade, rising by the daily maximum permitted by the exchange.

Wheat for December delivery rose 30 cents, the daily limit, to $8.035 a bushel; December corn added 0.75 cent to $3.82 a bushel; December oats dipped 0.5 cent to $2.765 a bushel; January soybeans fell 3 cents to $10.84 a bushel.

Beef and pork futures advanced on the Chicago Mercantile Exchange.

December live cattle rose 0.18 cent to 96.35 cents a pound; January feeder cattle rose 0.33 cent to $1.099 a pound; December lean hogs rose 0.93 cent to 55.75 cents a pound; February pork bellies added 0.65 cent to 93.05 cents a pound.

[Associated Press]

Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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