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DTN Closing Grain Comments 07/09 13:45
Grains Post Slight Recovery While Oilseeds Falter at Midweek
It was a quiet and overall mixed trade across row crop markets on Wednesday,
as bearish focus turned to oilseeds with the soybean complex as well as canola
markets were lower, while corn and wheat markets attempted a modest reversal
action. Friendly U.S. weather continues to be the focus of the market, although
traders may be squaring positions ahead of Friday's World Agricultural Supply
and Demand Estimates (WASDE) report due out from USDA. Meanwhile, outside
markets are stable and in a holding pattern following the early week tariff
announcements with a degree of uncertainty hanging over investors and traders
ahead of the new Aug. 1 deadline.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
September corn closed up 1 1/4 cents and December corn was up 1 1/4 cents.
August soybeans closed down 12 1/4 cents and November soybeans were down 10 1/4
cents. September KC wheat closed up 1 1/2 cents, September Chicago wheat was
down 3/4 cents, September MIAX Minneapolis wheat was up 1 3/4 cents.
Your local weather forecast from DTN can be sent to your email every morning free through DTN Snapshot.
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