DTN Closing Grain Comments 03/23 13:40
23 Mar 2023
DTN Closing Grain Comments 03/23 13:40 Soybean Complex Plunges on More Fund Liquidation Despite the oversold nature of the soybean futures market, soybeans continue to freefall as funds unloaded longs, with new-crop November closing down for the thirteenth consecutive day. Soybean meal and bean oil also crumbled as funds sold heavily. Corn got an early boost from more China business, but couldn't hold, while wheat was a mixed affair. Dana Mantini Senior Market Analyst GENERAL COMMENTS: May corn closed down 1 3/4 cents and December corn was down 2 1/4 cents. May soybeans closed down 29 cents and November soybeans were down 14 1/2 cents. May KC wheat closed up 8 1/2 cents, May Chicago wheat was down 1 1/2 cents and May Minneapolis wheat was down 1/4 cent.