DTN Closing Grain Comments 05/09 16:37
9 May 2024
DTN Closing Grain Comments 05/09 16:37 New Low in Soybean Oil Drags Soybean Prices Lower Thursday July soybean oil fell 1.15 cents to 42.64 cents Thursday, the lowest July close in three years as prices continue to reflect a loss of market share to competing feedstocks for making biofuel. November soybeans closed down 12 1/2 cents, but July contracts of all three U.S. wheats posted modest gains after Reuters posted a story about wheat damage in central Russia. Todd Hultman DTN Lead Analyst GENERAL COMMENTS: July corn closed down 2 cents and December corn was down 1 1/4 cents. July soybeans closed down 19 1/4 cents and November soybeans were down 12 1/2 cents. July KC wheat closed up 3 1/4 cents, July Chicago wheat was up 3 1/2 cents and July Minneapolis wheat was up 1 cent.