DTN Closing Grain Comments 08/22 13:43

DTN Closing Grain Comments 08/22 13:43 Wheat Plunges to New Contract Lows Following Europe, Canadian Woes; Soybeans Drop on Best Looking Illinois Crop in Years Wheat futures dropped like a rock early Thursday, taking the lead from Paris milling wheat futures forging a new low and ideas that the Canadian rail strike has led to weakened bids for grain. Corn and soybeans faltered after on-the-ground checks indicated strong potential for record corn and soy yields in Illinois. The Canadian rail strike, which began at midnight, has slowed transportation and is likely to back up supplies. Dana Mantini Senior Market Analyst GENERAL COMMENTS: December corn finished down 4 3/4 cents per bushel, November soybeans closed down 20 cents per bushel. December KC wheat was down 6 3/4 cents per bushel, December Chicago wheat is fell 8 1/2 cents per bushel and December Minneapolis wheat settled down 13 1/4 cents. The September U.S. Dollar Index is trading up 0.510 at 101.420. The Dow Jones Industrial Average is down 198.87 points at 40,691.62. December gold is down $28.10 at $2,519.40, September silver is down $0.53 at $29.01 and September copper is down $0.0560 at $4.1340. October crude oil is up $1.23 at $73.16, October heating oil is up $0.0194, October RBOB is up $0.0314 and September natural gas is down $0.118.