Chernobyl Energizes Grains

The Chernobyl nuclear disaster energized American futures markets again Tuesday.

Grains, soybeans and cattle prices advanced, partly because of developments, or mere rumors, linked to concern over radiation damage to European farms.

Traders at the Chicago Board of Trade were expecting lower prices Tuesday because of rain over much of the nation’s cropland, good progress in planting corn and other factors.

But then came a report out of Moscow that the damaged reactor at Chernobyl was still leaking radioactivity and would take months to clean up, sending prices higher on the opening.

A later report, however, indicated that radiation at the stricken plant had nearly ceased.

Also, there were rumors that the Soviet Union was buying 500,000 metric tons of corn from the United States and an equal amount from Argentina to replace grain contaminated by the nuclear accident.

Analysts said there was concentrated buying of corn futures, lending some credence to the rumor. Also, there was widespread commercial buying in all of the pits.