DTN Closing Grain Comments 10/29 14:38
29 Oct 2024
DTN Closing Grain Comments 10/29 14:38 Wheat Futures Higher Tuesday on Poor Crop Conditions It was an overall quiet and mixed session for grains Tuesday. Wheat futures led the way higher and provided support for corn. Unfortunately, soybeans were unable to sustain early support and closed lower. Crude oil slipped slightly again but seems to have stabilized itself from its sharp move lower Monday. Corn and soybean planting paces advanced to near predicted levels, with beans lagging a touch in the past week but not enough to be a concern. Winter wheat had a jolt of fresh fundamental news Tuesday as Monday afternoon's first crop ratings came in below expectations on wheat rated good to excellent. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: December corn closed up 3 cents and March corn was up 2 1/4 cents. January soybeans closed down 7 cents and March soybeans were down 4 3/4 cents. December KC wheat closed up 12 3/4 cents, December Chicago wheat was up 11 3/4 cents and December Minneapolis wheat was up 11 1/4 cents.