DTN Closing Grain Comments 10/17 13:43
17 Oct 2023
DTN Closing Grain Comments 10/17 13:43 Soybean Meal Pulls Soybeans Up to Solid Gains While Wheat Fades The soybean products are taking turns. On Monday it was soybean oil with a big rally and, on Tuesday, soymeal rose sharply, pulling beans up. The record soybean crush from NOPA in September and the lowest bean oil stocks in nine years were the bullish drivers. A Monday sale of soymeal to the Philippines continues the narrative of record meal sales. Corn and wheat were mixed in two-sided trade. Dana Mantini Senior Market Analyst GENERAL COMMENTS: December corn closed down 1 cent per bushel at 4.89 and March corn was down 1 1/4 cents at 5.03 3/4. November soybeans closed up 10 1/2 cents at 12.97 and January soybeans were up 10 1/2 cents at 1316 1/4. December KC wheat closed down 2 cents at 6.67, December Chicago wheat was down 6 3/4 cents at 5.71 and December Minneapolis wheat was down 3/4 cent at 7.28.