DTN Closing Grain Comments 09/29 13:39
Wheat Rejects Early Strength; Soybeans Get Boost From Bean Oil Rally
In quiet trade Thursday ahead of the September NASS Quarterly Stocks and
Small Grains Summary reports on Friday, the grain and soy markets traded on
both sides of unchanged. Wheat gave up sharp early gains to finish lower, while
soybeans were able to eke out a modest gain on the heels of a soybean oil
rally. Outside macro markets provided a mixed but mostly bearish message, with
the equities and energies again lower, and the U.S. Dollar Index sliding lower
after Wednesday's new contract high.
Senior Market Analyst
December corn closed down 1 1/4 cents per bushel and March corn was down 1/
cents. November soybeans closed up 2 cents and January 3 1/4 soybeans were up 2
cents. December KC wheat closed down 10 3/4 cents, December Chicago wheat was
down 8 cents and December Minneapolis wheat was down 7 1/4 cents. The December
U.S. Dollar Index is trading down 0.168 at 112.340. The Dow Jones Industrial
Average is down 677.96 points at 29,005.78. December gold is down $4.30 at
$1,665.70, December silver is down $0.24 at $18.65 and December copper is up
$0.0545 at $3.4130. November crude oil is down $0.97 at $81.18, November
heating oil is down $0.0318, November RBOB is down $0.0520 and November natural
gas is down $0.085.
Get your local Cash Bids emailed to you each morning from DTN – click here
to sign up for DTN Snapshot.