DTN Closing Grain Comments 02/24 13:45
24 Feb 2025
DTN Closing Grain Comments 02/24 13:45 Grains Open Week With Steep Losses as Traders Remove Risk Premiums Grain markets were under pressure almost from the opening bell Sunday evening as advancing Brazilian fieldwork combined with a return to above-normal temperatures through much of the U.S. Midwest had grain traders rapidly removing premium which was built up in the corn and wheat markets over the past week or two. Wheat markets in particular are paving the way lower as traders have all but removed the three-day rally from a week ago from the market at this point. Outside markets to begin the week stock indices recovering slightly from ugly price action to end last week. Meanwhile, the U.S. Dollar Index continues to struggle to gain traction at its lowest level in almost three months. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed down 8 3/4 cents and May corn was down 8 cents. March soybeans closed down 10 1/2 cents and May soybeans were down 9 3/4 cents. March KC wheat closed down 12 3/4 cents, March Chicago wheat was down 11 cents, March Minneapolis wheat was down 9 1/4 cents.