DTN Closing Grain Comments 03/07 13:49
7 Mar 2023
DTN Closing Grain Comments 03/07 13:49 Hawkish Comments From Fed Chairman Powell Hit Crude, Soy Complex, Sends Dollar Up Hawkish comments regarding interest rates from Fed Chairman Jerome Powell sent equities, crude oil and bean oil reeling. Soybeans finished with sharp losses as well, with soymeal stalling out. Corn closed down and wheat was a mixed bag on a slow news day as traders await the March WASDE report Wednesday. Conditions in Argentina remain poor, providing underlying support to corn and soy. Dana Mantini Senior Market Analyst GENERAL COMMENTS: May corn was down 2 3/4 cents and December corn down 3 cents. May soybeans closed down 13 1/2 cents and November soybeans were down 5 3/4 cents. May KC wheat closed up 1 1/2 cents, May Chicago wheat was up 2 3/4 cents and May Minneapolis wheat was down 10 3/4 cents.