DTN Closing Grain Comments 08/27 13:44
27 Aug 2024
DTN Closing Grain Comments 08/27 13:44 Wheat, Corn Reverse From New Lows; Soybeans, Soymeal Firm December corn and December Chicago wheat again fell to match or set new lows before reversing to finish the day higher. Depending on the close Wednesday, this type of market action could signal more buying ahead. Corn had a bullish engulfing bar and a tweezer bottom -- both usually reversal patterns. Soybeans and soymeal moved higher for the third consecutive day, while bean oil slipped lower, pressured by the fall in crude oil. Dana Mantini Senior Market Analyst GENERAL COMMENTS: December corn closed up 6 1/4 cents per bushel, November soybeans were up 5 3/4 cents per bushel. December KC wheat settled up 9 1/2 cents per bushel, December Chicago wheat was up 10 1/2 cents per bushel and December Minneapolis wheat closed up 5 1/2 cents.