Corn and soybean futures prices july 25, 2012

Corn and soybean futures prices july 25, 2012 : Corn and soybean futures rebounded on speculation that rain will miss many growing areas in the U.S. Midwest, heightening concerns that supplies will decline amid the most-severe drought since 1956. Wheat also gained.

Corn futures for December delivery gained 1.2 percent to $7.875 a bushel on the Chicago Board of Trade. The price fell 2.2 percent in the past two days after rising to a record $8 on July 23.

Soybean futures for November delivery jumped 2.3 percent to $16.06 a bushel. The price tumbled 6.9 percent in the past two days after surging to an all-time high of $16.915.

Wheat futures for September delivery advanced 2.6 percent to $9.0175 a bushel. Through yesterday, the price jumped 40 percent since mid-June.

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