DTN Closing Grain Comments 12/03 13:45
3 Dec 2024
DTN Closing Grain Comments 12/03 13:45 Ag Markets Finish Tuesday Trade Mostly Positive Strength has returned in recent days to the vegetable oil and oilseed markets as flooding in Malaysia and Indonesia has raised palm oil production concerns. Protectionist attitudes among world economies have also bolstered prices Tuesday, as reports out of Russia indicate an increase in wheat export tax in tandem with a reduction in that country's export quota for wheat February 2025 and forward. Outside market influence Tuesday leaned supportive to ag futures with crude oil up and the U.S. Dollar Index down as the market prepares for another revision lower of the U.S. Federal funds rate during the Fed meeting later this month. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed down 1/4 cents and May corn was down 1 cent. January soybeans closed up 6 1/2 cents and March soybeans were up 6 1/4 cents. March KC wheat closed up 1 1/4 cents, March Chicago wheat was up 1/4 cents and March Minneapolis wheat was up 2 1/4 cents.