DTN Closing Grain Comments 10/05 13:50
5 Oct 2023
DTN Closing Grain Comments 10/05 13:50 Wheat, Corn Markets Surge While Soybeans Recover From Early Selling to Finish Higher The soy complex was under pressure for much of the day, before rallying on the heels of a strong soymeal recovery. Wheat markets surged higher, and corn followed to close sharply higher as well. Increased tensions in the Black Sea between Russia and Ukraine seemed to put Black Sea exports more at risk. Word from UK Intelligence suggested Russia could install mines and target civilian vessels as well, which also supported world wheat markets. Expanding dryness in Argentina and Australia also added to wheat bullishness. Dana Mantini Senior Market Analyst GENERAL COMMENTS: December corn closed up 11 1/2 cents per bushel, November soybeans finished up 7 3/4 cents per bushel. December KC wheat closed up 24 cents per bushel, December Chicago wheat was up 18 1/4 cents per bushel and December Minneapolis wheat ended up 19 3/4 cents.