Grain prices rise with dollar's drop

Grain futures closed higher Monday on the Chicago Board of Trade as the dollar index dropped sharply, falling 1.55 percent. Corn was up 4 1/2 to up 5, soybeans were up 18 1/4 to up 19 1/4, wheat was off 7 1/2 to off 9 3/4 and oats were up 3. Corn futures jumped in sympathy with oil prices, which surged in New York. The dollar's weakness supported wheat prices, as traders kept an eye on winter wheat planting and rain that could give the crop a fast start at establishing itself. Soybean prices rose with traders positioning themselves in advance of a production report set for release Tuesday -- a report delayed by the Columbus Day holiday. The prices: Corn: Dec 6.05 up 5, Mar 6.17 1/2 up 4 3/4, May 6.24 3/4 up 4 1/2, Jly 6.29 1/4 up 5. Soybeans: Nov 11.77 1/2 up 19 1/4, Jan 11.86 3/4 up 18 3/4, Mar 11.97 3/4 up 19 1/2, May 12.05 1/2 up 18 1/4. Wheat: Dec 6.11 1/2 up 4, Mar 6.47 3/4 up 3 3/4, May 6.71 1/2 up 3, Jly 6.83 up 2. Oats: Dec 3.24, Mar 3.34 1/2, May 3.40 1/2, Jly 3.46 1/2 -- all up 3.