DTN Closing Grain Comments 07/05 14:13
5 Jul 2024
DTN Closing Grain Comments 07/05 14:13 Soybean Oil Surges to a Seventh Straight Higher Close, Soybeans, Soymeal, Wheat and Corn All Rise Sharply In a reversal of early weakness, soybean oil again took off to the upside, dragging the soybean and soymeal markets along for the ride, no doubt leading to fund short covering in beans and oil. Wheat and corn also rose to solid gains as the drought conditions in the Black Sea could compromise Russian/Ukraine corn and Russian spring wheat. Dana Mantini Senior Market Analyst GENERAL COMMENTS: December corn was up 4 1/2 cents per bushel, November soybeans finished up 8 1/4 cents per bushel. September KC wheat was up 15 1/2 cents per bushel, September Chicago wheat closed up 16 1/2 cents per bushel and September Minneapolis wheat closed up 10 1/2 cents.