Local markets

As of Monday’s close, courtesy of Ottawa Cooperative Assn. Ottawa Elevator — Wheat, $3.61; corn, $2.13; milo, $2.03; soybeans, $5.99. Edgerton Elevator — Wheat, $3.61; corn, $2.13; milo, $2.03; soybeans, $5.99. Overbrook Elevator — Wheat, $3.61; corn, $2.18; milo, $2.03; soybeans, $5.99. Midland Elevator — Wheat, NA; corn, $2.18; milo, NA; soybeans, $5.99. Lawrence North Elevator — Wheat, NA; corn, $2.13; milo, NA; soybeans, $6.01. Lawrence South Elevator — Wheat, $3.61; corn, $2.13; milo, $2.03; soybeans, $5.99. Pauline Elevator — Wheat, NA; corn, $2.18; milo, $2.08; soybeans, $6.03.

Chicago Board of Trade

Soybean futures posted startling gains Monday on the Chicago Board of Trade, rising more than 30 cents per bushel on hot, dry weather that could shrink the U.S. crop.

Corn and wheat prices also moved higher.

With the soybean crop at a critical late stage, news that triple-digit temperatures had baked fields in much of the Midwest prompted investors to worry about the likely impact on yield. The heat wave is forecast to continue through mid-week. Steadily declining crop ratings, which have been deteriorating for a month, added to the buying sentiment.

Corn jumped to two-month highs on the weather-related buying. The western corn belt was thought to have been particularly affected by the weekend heat.

Wheat increased modestly as a result of the big rallies in soybeans and corn.

Wheat for December delivery rose 3 3/4 cents to $3.94 3/4 a bushel; December corn rose 8 3/4 cents to $2.38 1/4 a bushel; December oats rose 4 cents to $1.45 a bushel; November soybeans rose 30 3/4 cents to $5.80 1/2 a bushel.

Beef and pork futures increased in trading on the Chicago Mercantile Exchange.

October live cattle rose .90 cent to 78.50 cents a pound; September feeder cattle rose .37 cent to 91.47 cents a pound; October lean hogs rose .92 cent to 52.57 cents a pound; February pork bellies rose .43 cent to 81.55 cents a pound.

St. Joseph livestock

St. Joseph, Mo. (ap) — Quotations for Monday:

Estimated Receipts: 150. Compared to last Wednesday, barrows and gilts sold 2.50 lower. Triple digit heat is making the movement of hogs very difficult. Barrows and gilts 46-50 percent lean 230-270 lbs 36.50-37.00. Sows: Scarce. Boars: Steady; 300-700 lbs 6.00.

Nonferrous metals

New York (ap) — Spot nonferrous metal prices Monday:

Silver – $4.920 troy oz., N.Y. Merc spot Mon.

Gold – $358.40 troy oz., NY Merc spot Mon.