DTN Closing Grain Comments 01/30 13:59

DTN Closing Grain Comments 01/30 13:59 Soybean Meal Soars to New High on Argentine Weather, Bringing Soybeans Along China has returned from the week-long Lunar New Year holiday, featuring big gains in their corn and soy markets, and Argentine weather is again forecast to turn dry following weekend rains. That has propped up the soy market, led by the surging meal market, while KC wheat is on a five-day winning streak on fund short covering and the threat of winterkill. Dana Mantini Senior Market Analyst GENERAL COMMENTS: March corn closed up 3/4 cent per bushel and May corn was up 1 1/4 cents. March soybeans closed up 25 3/4 cents and May soybeans were up 25 cents. March KC wheat closed up 4 1/2 cents, March Chicago wheat was up 2 1/2 cents and March Minneapolis wheat was down 1 1/4 cents. The March U.S. Dollar Index is trading up 0.384 at 102.105. The Dow Jones Industrial Average is down 172.85 points at 33,805.23. February gold is down $6.70 at $1,922.70, March silver is up $0.07 at $23.70 and March copper is down $0.0360 at $4.1865. March crude oil is down $1.74 at $77.94, March heating oil is down $0.1203, February RBOB is down $0.0856 and March natural gas is down $0.174.