DTN Closing Grain Comments 10/30 13:35
30 Oct 2024
DTN Closing Grain Comments 10/30 13:35 Wheat, Soybeans Show Midweek Strength; Corn Slips Slightly Grain markets were mixed Wednesday as month-end position-squaring and technical recovery had soybeans posting double-digit gains after setting new lows for the move Tuesday. Wheat is the only grain with meaningful current fundamental news, as poor winter wheat conditions in the U.S. and continued question marks regarding Russia's production and export book continue to provide support. Corn posted a very quiet midweek session Wednesday, wedged between technical support and resistance and waiting for fundamental fuel to drive the next leg of price action. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: December corn closed down 2 1/4 cents and March corn was down 1 1/2 cents. January soybeans closed up 12 1/4 cents and March soybeans were up 12 cents. December KC wheat closed up 1 1/2 cents, December Chicago wheat was up 2 3/4 cents and December Minneapolis wheat was up 1 cent.