DTN Closing Grain Comments 02/23 13:47
23 Feb 2023
DTN Closing Grain Comments 02/23 13:47 Corn, Kansas City Wheat Plunge; Soy Markets Mostly Lower Again Although traders rarely put much credence into the USDA Ag Outlook Forum numbers, that seemed to set the stage for Thursday's weak grain and soy performance. Corn and KC wheat led the markets lower, with May corn finally breaking out of the sideways trading range that began in mid-January. Thursday's breach of the 50-day moving average is likely to lead to further liquidation. Soybeans continued to correct from recent highs. Dana Mantini Senior Market Analyst GENERAL COMMENTS: March corn closed down 13 3/4 cents per bushel and May corn was down 15 cents. March soybeans closed down 5 1/4 cents and May soybeans were down 7 1/2 cents. May KC wheat closed down 12 3/4 cents, May Chicago wheat was up 1/2 cent and May Minneapolis wheat was down 5 cents.