DTN Closing Grain Comments 12/05 13:42
5 Dec 2024
DTN Closing Grain Comments 12/05 13:42 Choppy Price Action Continues as Ag Markets Bounce Thursday Rangebound, cautious trade continued into Thursday as traders are content for the time being with apparent short-term trade horizons, not wanting to get caught either short or long going into the USDA report next Tuesday. Outside markets leaned positive with the U.S. dollar continuing its correction from two-year highs, bolstering U.S. export sentiment in the process. In the meanwhile, palm oil futures are due a large deal of credit for the pullback in U.S. grains Thursday, as palm oil prices continue their surge back to early November highs on flooding/production concerns in Indonesia and Malaysia. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed up 5 cents and May corn was up 5 cents. January soybeans closed up 10 cents and March soybeans were up 9 1/4 cents. March KC wheat closed up 10 cents, March Chicago wheat was up 10 cents and March Minneapolis wheat was up 9 cents.