DTN Closing Grain Comments 05/12 14:25
12 May 2023
DTN Closing Grain Comments 05/12 14:25 KC Wheat Jumps Higher on USDA Estimates, New-Crop Soybeans Tumble July KC wheat closed up 35 1/2 cents after USDA estimated 514 million bushels of HRW wheat production in 2023-24, less than the 588 million bushels traders were expecting. On the other end of the spectrum, November soybeans fell 24 1/4 cents to its lowest close since July after USDA estimated 335 million bushels of U.S. ending stocks in 2023-24. Todd Hultman DTN Lead Analyst GENERAL COMMENTS: July corn closed up 4 cents and December corn was down 5 cents. July soybeans closed down 15 1/2 cents and November soybeans were down 24 1/4 cents. July KC wheat closed up 35 1/2 cents, July Chicago wheat was up 7 3/4 cents and September Minneapolis wheat was up 8 1/4 cents.