DTN Closing Grain Comments 11/05 13:39
5 Nov 2024
DTN Closing Grain Comments 11/05 13:39 Grain Markets Cautiously Higher on Election Day Grain markets continued their modest gains into Tuesday, with soybeans leading the way higher. This week's break in the U.S. Dollar Index is giving strength to ag commodities. Overall trader sentiment appears to be biased toward a reduction in U.S. production estimates for corn and soybeans, likely stemming from late-season dryness experienced in much of the Midwest. U.S. corn and soybean harvests both reported over 90% complete and running ahead of their respective 5-year average pace for the first week of November, will add an extra feeling of accuracy to the USDA's estimates on Friday given the more complete field data they'll have to work with. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: December corn closed up 2 cents and March corn was up 2 cents. January soybeans closed up 4 1/2 cents and March soybeans were up 3 cents. December KC wheat closed up 5 3/4 cents, December Chicago wheat was up 3 3/4 cents and December Minneapolis wheat was up 4 1/2 cents.