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DTN Closing Grain Comments 09/15 13:46
Row Crops Ease on Selling Pressure Following Friday's Jump
U.S. crop prices fell to begin the new week, led by corn which was met with
fresh selling following an impressive double-digit surge Friday, which put
December futures at a two and a half month high. Soybean and wheat futures were
lower as well but in much quieter fashion as traders look past Friday's WASDE
report and ahead to U.S. harvest reports which will begin to flow in over the
next several weeks. Outside markets for Monday were mostly a positive influence
on agricultural markets with a softer U.S. dollar, and firmer energy markets.
Monday news was headlined by reports that the U.S. and China had reached a
tentative agreement over the weekend regarding TikTok, with President Trump
announcing he and President Xi of China are planning to speak on Friday, which
the soybean market in particular will surely be watching closely.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
December corn closed down 6 3/4 cents and March corn was down 6 1/4 cents.
November soybeans closed down 3 1/2 cents and January soybeans were down 3 1/2
cents. December KC wheat closed down 3/4 cents, December Chicago wheat was up 1
1/2 cents, December MIAX Minneapolis wheat was down 0 cents.
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