DTN Closing Grain Comments 01/07 13:55
7 Jan 2020
DTN Closing Grain Comments 01/07 13:55 Last Week's Bearish Trade Leads to Further Selling in KC Wheat, Soybeans Despite flashing some early strength, the overbought wheat and soybean markets fell again on Tuesday as last week's bearish technical indicators suggested they would. Both markets threatened to break through some key support areas, but were able to bounce ahead of the close. Wheat weakness was partly tied to China's decision to not increase tariff rate quotas (TRQs) on either wheat or corn to accommodate phase one. Corn traded both sides of unchanged and remained within the same range as it has for 15 days.