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DTN Closing Grain Comments 06/29 13:56
Soybeans and Meal Move Higher; Corn and Wheat Leak From Early Gains
In quiet trade ahead of USDA's June 1 Stocks and Acreage report, corn and
wheat failed to hold early gains, while the soy complex was firm the entire day
on the heels of soybean meal strength. Although the June report is typically a
market-mover, only minor changes are expected in area planted, leaving the door
open for a surprise on Thursday.
Dana Mantini
Senior Market Analyst
GENERAL COMMENTS:
July corn closed up 10 3/4 cents per bushel, and December corn was down 5
1/2 cents. July soybeans closed up 10 1/2 cents, and November soybeans were up
15 3/4 cents. September KC wheat closed up 1 cent, September Chicago wheat was
down 6 cents, and September Minneapolis wheat was down 11 3/4 cents. The
September U.S. Dollar Index is trading up 0.544 at 104.805. The Dow Jones
Industrial Average is up 142.51 points at 31,089.50. August gold is down $1.60
at $1,819.60, July silver is down $0.10 at $20.71 and July copper is down
$0.0010 at $3.7730. August crude oil is down $1.15 at $110.61, August heating
oil is down $0.1314, August RBOB is down $0.1049 and August natural gas is down
$0.067.
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