DTN Closing Grain Comments 12/23 13:47

DTN Closing Grain Comments 12/23 13:47 Grains Open Christmas Week With Slow Trade Ag markets opened the week mixed with a very quiet tone to the trade and volumes taking a sizeable step back from last week as the market prepares to close out 2024. Soybean markets were pressured slightly by technical resistance after two very strong days to finish last week, while corn markets continue to be supportive on an optimistic demand outlook and a potentially drier forecast in Argentina over the next 10 days. Wheat markets continued to follow chart patterned trade to open the week. Outside markets leaned negative with a resumption in the collapse of the Brazilian real following two stronger sessions to close last week. The U.S. Dollar Index was stronger as well as a result. Equities were also mixed with the Dow Jones Industrial Average down but the S&P slightly higher. Other leading commodities such as gold and crude oil were down as well. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed up 1 1/2 cents and May corn was up 1 3/4 cents. January soybeans closed down 5 cents and March soybeans were down 3 3/4 cents. March KC wheat closed up 6 1/4 cents, March Chicago wheat was up 7 1/2cents, March Minneapolis wheat was up 5 1/4 cents.