CHICAGO, May 18 (Xinhua) -- Grain futures in Chicago Board of Trade rose on Monday, buoyed by strong crude oil and stock market.

    Soybean future for July delivery gained 16 cents and closed at 11.4625 U.S. dollars per bushel. July corn rose 4.25 cents, closing at 4.215 dollars a bushel. July wheat was up 13 cents, settled on 5.905 dollars per bushel.

    Crude oil, which rose almost 5 percent for the session, provided much support to grains as corn and soybean both are materials to produce biofuel.

    Sparked by better-than-expected house building data, the U.S equity market soared 235 points, or 2.85 percent, further strengthening the ideas that the economy is on the way to recover. A better economy situation generally means a stronger demand for grains.

    The crop progress report released by U.S. Department of Agriculture (USDA) showed corn planting at 62 percent compared to the five year average of 85 percent, right in line with estimates. However, Illinois and Indiana, the two biggest corn planting states, are still significantly left behind.

    Soybean's demand is very strong as the USDA announced on Monday morning a sale of 116,000 tons of U.S. soybeans to China for 2009/10 and a sale of 120,000 tons to Egypt for 2008/09. Meanwhile, this week's export inspections were pegged at 15.679 million bushels, almost 5 million bushels more than the previous week.

    New weather concerns for the Southern Plains forecasting rain and below normal temperatures are supportive to wheat.

    Crop Progress report showed U.S. winter wheat at 26 percent at poor to very poor and 48 percent at good to excellent. Spring Wheat is 50 percent planted compared to the five year average of 90 percent.

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