DTN Closing Grain Comments 04/20 14:40
20 Apr 2023
DTN Closing Grain Comments 04/20 14:40 Grain, Soy Markets Plummet on Weak Sales, Rain, Outside Market Pressure Grain and soybean markets remained under heavy selling pressure with long funds no doubt exiting the soy complex and wheat and corn falling on technical selling and beneficial rains in the Corn Belt and parts of the arid southwestern Plains. KC July wheat is leading the way down and now has plunged nearly 65 cents from the Tuesday high. Spot crude oil futures have plunged nearly $7 per barrel in the past few days, pressuring corn and bean oil. Dana Mantini Senior Market Analyst GENERAL COMMENTS: July corn closed down 10 1/2 cents per bushel at 6.26 and December corn was down 5 1/2 cents at 5.58. July soybeans closed down 10 1/4 cents at 14.68 1/2 and November soybeans were down 8 cents at 13.01. July KC wheat closed down 23 cents at 8.27, July Chicago wheat was down 12 3/4 cents at 6.80 and May Minneapolis wheat was down 10 cents at 8.57.