DTN Closing Grain Comments 11/27 13:42
27 Nov 2023
DTN Closing Grain Comments 11/27 13:42 Corn, Wheat Fall to New Contract Lows; Soy Products Finish Slightly Firmer Corn and wheat futures plunged into new contract lows Monday. Chicago wheat led the donnybrook, while Kansas City wheat hit another new contract low on the way to its tenth lower close in just the past 12 days. March corn broke through the previous low, falling to $4.73. Soybeans, getting some help from firmer products, fell slightly to once again challenge key support at $13.25 on January and finished steady. Despite good export and domestic demand, the record corn harvest is weighing on the market, while in wheat, U.S. exporters are still searching for demand. Dana Mantini Senior Market Analyst GENERAL COMMENTS: March corn closed down 7 1/4 cents per bushel, January soybeans finished down 1 cent per bushel. March KC wheat settled down 15 cents per bushel, March Chicago wheat is down 16 1/4 cents per bushel and March Minneapolis wheat closed down 15 1/2 cents.