Grains began the new year with a bang on Tuesday, with corn and soyabeans surging on worries about hot, dry crop weather in Argentina slashing production, coupled with a renewed appetite for risk in global financial markets. Grains had a mixed performance in 2011, with corn rising 2.8 percent for the year, while wheat fell 17.8 percent and soyabeans down 13.7 percent.
As of 10:31 am CST (1631 GMT), most-active March soyabeans were up 24 cents at $12.31-3/4 per bushel, with March corn up 9-1/2 cents at $6.56 a bushel. March wheat was up 10-1/4 cents at $6.63 a bushel, following corn and soyabeans.