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DTN Closing Grain Comments 12/11 13:48

11 Dec 2019

DTN Closing Grain Comments 12/11 13:48 Soybeans Plummet Despite New China Buying; Corn, Wheat Fall Hard Following six consecutive higher closes and a USDA WASDE report which offered little change to the soybean supply and demand table, soybeans plunged on heavy fund selling Wednesday. This comes despite confirmation that China had bought another 21.4 million bushels (mb) of U.S. soybeans with another sale of 5 mb sold to unknown, which may also be China. Corn fell hard as well on new fund selling, pressuring wheat.

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