DTN Closing Grain Comments 01/08 13:53
8 Jan 2024
DTN Closing Grain Comments 01/08 13:53 Weather, Fund and Technical Selling, Crude Oil Plunge Send Grain and Soy Markets to Deep Losses Grain and soy markets fell hard Monday, with March beans blowing right through a key support area and all three wheat markets moving sharply lower on the heels of the first major winter storm moving across the U.S. Plains. Adding to the bearish tone was a boost in December crude oil output and a decision by Saudi Arabia to cut oil price offers, sending crude oil futures to a 4% loss early. Dana Mantini Senior Market Analyst GENERAL COMMENTS: March corn closed down 5 3/4 cents per bushel, March soybeans finished down 10 3/4 cents per bushel. March KC wheat was down 12 3/4 cents per bushel, March Chicago wheat was down 19 3/4 cents per bushel and March Minneapolis wheat ended down 9 1/2 cents.