DTN Closing Grain Comments 04/08 13:44
8 Apr 2024
DTN Closing Grain Comments 04/08 13:44 Corn and Wheat Mostly Firm, Soybean Oil Retreats on Weak Palm and Crude Oil Markets In extremely quiet trade with little fresh news to impact markets, corn, soymeal and hard wheat markets were all modestly higher, while soybean oil took the brunt of the selling. The weakness in bean oil can be attributed to a 4-day losing streak in June palm oil and a weaker crude oil market. The latter is in reaction to unconfirmed reports that Israel was planning to pull troops from Gaza. Dana Mantini Senior Market Analyst GENERAL COMMENTS: May corn was up 1 1/4 cents per bushel, May soybeans closed down 3 1/2 cents per bushel. May KC wheat finished up 3 cents per bushel, May Chicago wheat was down 1 1/2 cents per bushel and May Minneapolis wheat settled up 1 1/2 cents.