DTN Closing Grain Comments 03/09 13:44
9 Mar 2023
DTN Closing Grain Comments 03/09 13:44 More Argentine Production Cuts, Yet Grain and Soy Markets Tank Corn and soy markets began higher Thursday, buoyed by further drastic cuts to Argentine corn and soy crops by the Rosario Exchange. That early strength was rebuffed as soybean sales hit a marketing-year low with a net cancellation. Corn sales were good and yet both markets, along with wheat, plunged to new recent lows, as fund liquidation accelerated in corn and beans and funds added to shorts in wheat. Dana Mantini Senior Market Analyst GENERAL COMMENTS: May corn closed down 14 cents and December corn was down 4 1/2 cents. May soybeans closed down 7 cents and November soybeans were down 11 1/2 cents. May KC wheat closed down 23 cents, May Chicago wheat was down 21 3/4 cents and May Minneapolis wheat was down 22 1/4 cents.