DTN Closing Grain Comments 08/29 14:01
29 Aug 2023
DTN Closing Grain Comments 08/29 14:01 Wheat Markets Plunge to New Low; Corn and Soy Slide on Modest Condition Declines All three wheat markets again plunged to new lows, seemingly ignoring some bullish weather and production issues around the world. USDA surprised corn and soybean market traders with only a slight decline of 1 to 2 points in good-to-excellent ratings versus expectations for a 3- to 5-percentage-point fall. Trade was slow but bearish ahead of September's first notice day for delivery on Thursday. Dana Mantini Senior Market Analyst GENERAL COMMENTS: December corn closed down 9 1/2 cents per bushel at $4.87 and March corn was down 9 1/4 cents at $5.01 3/4. November soybeans closed down 13 1/4 cents at $13.93 and January soybeans were down 11 1/2 cents at $14.05. December KC wheat closed down 20 1/2 cents at $7.29, December Chicago wheat was down 16 1/2 cents at $6.01 and December Minneapolis wheat was down 5 3/4 cents at $7.86.