DTN Closing Grain Comments 07/27 13:53
27 Jul 2023
DTN Closing Grain Comments 07/27 13:53 Corn, Soy Markets Reject Early Strength to Finish Mostly Lower; Wheat Mixed Early Thursday, spot August soybean futures soared to a new contract high before selling off sharply and trading more than 40 cents below that high. August soymeal, as well, surged early to test the contract high, and once again fell after rising above $472. Bean oil was down hard while corn and Chicago wheat rebuffed early buying to finish lower. Dana Mantini Senior Market Analyst GENERAL COMMENTS: December corn closed down 6 cents per bushel at $5.42 and March corn was down 5 1/2 cents at $5.53 3/4. November soybeans closed down 22 cents at $13.98 and January soybeans were down 20 3/4 cents at $14.04 1/4. September KC wheat closed up 1 1/4 cents at $8.67, September Chicago wheat was down 7 1/4 cents at $7.13 and September Minneapolis wheat was up 8 1/4 cents at $9.04.