DTN Closing Grain Comments 09/16 13:33
16 Sep 2024
DTN Closing Grain Comments 09/16 13:33 Corn and Soy Markets Head Lower Led by Wheat; Soy Products Reject Early Weakness to Finish Higher Despite the U.S. Dollar Index plunging to 8-month lows on expectations for lower interest rates, grain and soy markets fell early, with the exception of bean oil futures. Soybean meal turned it around late to close with a modest gain, while soybeans finished just a penny lower. Wheat led the way down on a day without much news. Soybeans weakened despite another new sale of 4.9 mb to unknown destinations. Bean oil futures got a bounce from lower-than-expected stocks on the August NOPA report. Dana Mantini Senior Market Analyst GENERAL COMMENTS: December corn closed down 2 1/2 cents per bushel at $4.11 3/4 and May corn was down 1 1/4 cents at $4.40 1/4. November soybeans closed down 1 3/4 cents at $10.05 1/2 and March soybeans were down 1 cent at $10.38 0/1. December KC wheat closed down 19 1/2 cents at $5.81 1/2, December Chicago wheat was down 16 1/4 cents at $5.79 1/2 and December Minneapolis wheat was down 15 3/4 cents at $6.20 3/4.