DTN Closing Grain Comments 07/01 13:48
1 Jul 2024
DTN Closing Grain Comments 07/01 13:48 Soybean Oil Surges; Wheat Markets Finish Firm; Corn Falls for Eighth Straight Day December corn, still reeling from a bearish USDA report and favorable weather outlook for the Corn Belt, sank for the eighth consecutive day, but firmed up late. Wheat markets surged on likely short-covering with Black Sea weather a bullish input. August soybean oil surged to a strong finish after the CFTC Commitment of Traders report showed managed funds with a record net-short position as of last week. Dana Mantini Senior Market Analyst GENERAL COMMENTS: December corn was down 1/4 cent per bushel, November soybeans finished up 7 cents per bushel. September KC wheat was up 13 1/4 cents per bushel, September Chicago wheat was up 16 3/4 cents per bushel and September Minneapolis wheat closed up 15 1/2 cents.