DTN Closing Grain Comments 09/04 13:44
4 Sep 2024
DTN Closing Grain Comments 09/04 13:44 Wheat, Corn, Soybeans Continue to Rise as Technical Signals Suggest a Bottom Could Be In Corn, soybeans, meal and wheat extended their rally on Wednesday. December corn, October soymeal and all three wheats rose above their respective 50-day averages for the first time in months. The lone exception was bean oil futures, which fell again, pressured by weak crude and palm oil markets and the ongoing trade spat between Canada and China regarding canola. However, the rally and soaring barge freight may have priced U.S. corn out of the market. Dana Mantini Senior Market Analyst GENERAL COMMENTS: December corn closed up 3 1/2 cents per bushel at $4.13 3/4 and March corn was up 3 3/4 cents at $4.31 0/1. November soybeans closed up 9 1/2 cents at $10.22 1/2 and January soybeans were up 9 3/4 cents at $10.39 1/4. December KC wheat closed up 16 3/4 cents at $5.93 0/1, December Chicago wheat was up 14 cents at $5.81 3/4 and December Minneapolis wheat was up 16 cents at $6.23 1/4.