DTN Closing Grain Comments 01/03 14:17
3 Jan 2025
DTN Closing Grain Comments 01/03 14:17 Grain Markets Hit by Risk-Off Trade to Close Week Grain markets had become very technically overbought through the last week of December and traders responded Friday by taking risk out of positions as the problematic situation in Argentina remains in place through at least the first half of January, but late January models have shown some slight improvement to rain chances. Outside market influence to close the week leaned neutral with stronger equity markets as both the Dow Jones and S&P are attempting to find footing following steady declines through the last 10 to 15 days of 2024. The U.S. Dollar Index has relaxed Friday but overall remains very firm and near greater than two-year highs. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed down 8 3/4 cents and May corn was down 9 cents. March soybeans closed down 20 1/4 cents and May soybeans were down 21 1/4 cents. March KC wheat closed down 12 3/4 cents, March Chicago wheat was down 16 1/2cents, March Minneapolis wheat was down 11 3/4 cents.