DTN Closing Grain Comments 11/02 13:47
2 Nov 2023
DTN Closing Grain Comments 11/02 13:47 Soybeans, Bean Oil Finish Firm on Bullish Crush Data; Wheat Rallies for Second Straight Day; Corn Fades In quiet trade, soybeans closed firm, with soybean oil also gaining ground. Wheat shook off early weakness to close moderately higher for the second straight day. Corn futures slipped lower with a clear and warming forecast likely to speed up the completion of harvest. A record-setting September census crush and lower bean oil stocks, set the stage for strength, while soymeal leaked lower on higher-than-expected stocks. Dana Mantini Senior Market Analyst GENERAL COMMENTS: December corn closed down 5 cents per bushel at $4.70 and March corn was down 4 3/4 cents at $4.85. January soybeans closed up 13 1/4 cents at $13.28 and March soybeans were up 13 1/4 cents at $13.42. December KC wheat closed up 1 1/2 cents at $6.42, December Chicago wheat was up 3 3/4 cents at $5.66 and December Minneapolis wheat was up 1 1/4 cents at $7.10.