DTN Closing Grain Comments 02/22 13:45
22 Feb 2023
DTN Closing Grain Comments 02/22 13:45 Wheat Markets Melt Down; Corn, Soybeans, Meal Follow Wheat futures collapsed Wednesday, with Chicago falling for the fifth time in the last six days. Soybeans, soymeal, and corn finally retreated, likely pressured by some rains in Argentina and the advancing Brazilian soy harvest. Soybean oil rose for the sixth time in the past eight days, rising above the 50-day moving average, but sold off late with crude oil. Todd Hultman DTN Lead Analyst GENERAL COMMENTS: March corn closed down 6 1/2 cents per bushel and May corn was down 6 1/4 cents. March soybeans closed down 9 1/4 cents and May soybeans were down 9 1/4 cents. May KC wheat closed down 24 cents, May Chicago wheat was down 12 3/4 cents and May Minneapolis wheat was down 10 3/4 cents.