DTN Closing Grain Comments 11/29 13:33
29 Nov 2024
DTN Closing Grain Comments 11/29 13:33 Ag Markets Largely Mixed in Low Volume, Post Holiday Trade As expected, trading volumes on Friday were low as most markets traded on both sides of unchanged, and many are at or near key chart support or resistance points. World grain fundamentals remain largely unchanged as strong domestic demands are keeping a floor under corn futures. Meanwhile, soybeans remain near contract lows and wheat futures pushed lower on Friday to finally break into new contract lows. Large world supplies are also keeping price rallies from getting too carried away, especially with South American harvests inching closer every day. So far, there is little to discourage traders from penciling record or near record supplies into their balance sheet estimates for 2025. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed up 5 cents and May corn was up 4 1/2 cents. January soybeans closed up 3/4 cents and March soybeans were down 1 cents. March KC wheat closed down 3 3/4 cents, March Chicago wheat was down 1/2 cents and March Minneapolis wheat was up 1/2 cents.