DTN Closing Grain Comments 02/13 14:10
13 Feb 2024
DTN Closing Grain Comments 02/13 14:10 Wheat, Soybeans, Soymeal Falter as Dollar Surges on Inflation Data With Minneapolis Reaching New Low The Consumer Price Index (CPI) came in hotter than expected at a 3.1% annual pace, sending the U.S. Dollar Index to the highest level since mid-November. That, in turn, weakened ag commodity markets on ideas that any interest rate cuts were likely to come later in 2024. Hard wheat markets led the weakness while nearby corn futures languished a few cents above the low. Soybean oil, in two-sided trade, was able to finish higher after last week's key reversal. Dana Mantini Senior Market Analyst GENERAL COMMENTS: March corn closed up 1/4 cent per bushel and March soybeans were down 6 3/4 cents per bushel. March KC wheat finished down 4 1/4 cents per bushel, March Chicago wheat was unchanged and March Minneapolis wheat closed down 10 3/4 cents.