DTN Closing Grain Comments 07/06 14:03
Grain, Soy Round-Tripper; Minneapolis Falls to 12th Straight Lower Close
Following Tuesday's donnybrook to the downside, one would have thought
Wednesday's early bounce might be the beginning of a much-needed correction.
That was not the case, as early strength in grain and soy markets was
short-lived and the bearish onslaught continued. However, a late-day recovery
sent corn, soybeans and meal higher for the day, while all three wheat markets
closed lower in wide-ranging trade.
Senior Market Analyst
September corn closed up 7 1/2 cents per bushel and December corn was up 6
1/2 cents. August soybeans closed up 7 1/4 cents and November soybeans were up
6 3/4 cents. September KC wheat closed down 10 1/2 cents, September Chicago
wheat was down 2 1/2 cents and September Minneapolis wheat was down 3 3/4
cents. The September U.S. Dollar Index is trading up 0.535 at 106.855. The Dow
Jones Industrial Average is up 122.22 points at 31,090.04. August gold is down
$27.70 at $1,736.20, September silver is up $0.06 at $19.18 and September
copper is up $0.0235 at $3.4385. August crude oil is down $0.81 at $98.69,
August heating oil is down $0.1649, August RBOB is down $0.0910 and August
natural gas is down $0.001.
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