DTN Closing Grain Comments 01/02 13:44
2 Jan 2025
DTN Closing Grain Comments 01/02 13:44 Ag Markets Begin New Year Choppy, Mixed Grain markets reversed course midmorning Thursday after a sluggish start to the New Year to trade slightly higher in corn and soybeans, which continue to be supported by ongoing weather concerns in Argentina and southern Brazil. Wheat markets were the black sheep Thursday, unable to follow corn and soy markets higher, primarily due to technical pressure. Outside market influence was negative Thursday as well, capping gain potential in ag commodities, with equity markets continuing to slump, and the U.S. Dollar Index propelling to another high, the highest mark for the index since early November 2022. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed up 1 cent and May corn was up 1 1/2 cents. March soybeans closed up 1 1/2 cents and May soybeans were up 2 3/4 cents. March KC wheat closed down 7 1/2 cents, March Chicago wheat was down 5 3/4 cents, March Minneapolis wheat was down 7 cents.