DTN Closing Grain Comments 12/31 13:48
31 Dec 2024
DTN Closing Grain Comments 12/31 13:48 Ag Commodities Close 2024 on Strong Note Grain markets pushed higher Tuesday ahead of year end as Monday's optimistic technical closes allowed for momentum follow-through into the final session of the calendar year. Forecasts through the first half of January still show widespread dryness through the majority of Argentina and the southern-most areas of Brazil, which is enough right now to spark short-covering in the soy complex. Outside market influence Tuesday was mixed to negative with equity markets continuing their post-Christmas slide, and the U.S. Dollar Index continuing its move into highs not seen since fall 2022. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed up 6 1/4 cents and May corn was up 5 3/4 cents. March soybeans closed up 18 3/4 cents and May soybeans were up 19 1/4 cents. March KC wheat closed up 3 1/2 cents, March Chicago wheat was up 3 1/4cents, March Minneapolis wheat was up 2 cents.