DTN Closing Grain Comments 09/18 13:53
18 Sep 2024
DTN Closing Grain Comments 09/18 13:53 Corn, Wheat Markets Start Strong but Weaken after Aggressive Rate Cut; Soybeans Finish Firm Early Wednesday grain and soy markets opened very firm, led by November soybeans, which rose above the 50-day moving average for the first time since May. Although coming off the daily high, soybeans and bean oil were able to finish firm, while corn and wheat ended in the red. The Federal Reserve made an aggressive interest rate cut of 50-basis points late in the session. Dana Mantini Senior Market Analyst GENERAL COMMENTS: December corn closed up 1/4 cent per bushel at $4.12 3/4 and May corn was up 1/4 cent at $4.41 1/2. November soybeans closed up 8 cents at $10.14 and March soybeans were up 6 1/2 cents at $10.45 3/4. December KC wheat closed down 1 1/2 at $5.78 1/2, December Chicago wheat was unchanged at $5.75 3/4 and December Minneapolis wheat was down 4 1/2 cents at $6.16 1/2.