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DTN Closing Grain Comments 09/10 13:48
Soybeans, Soy Products Hit the Skids; Wheat Firm; Corn Leaks Below 50-Day
Average
What a difference a day makes -- soybeans and soy products fell Tuesday
after being the bullish stalwarts Monday. Soybeans were pressured by the fact
that USDA crop conditions did not waiver despite the hot and dry weather
pattern lately. Traders are also expecting a record large bean yield and crop
on Thursday's September WASDE report. Corn continues to move sideways in a
narrow range just below the key moving average. Wheat markets firmed up in
unison Tuesday, with little fresh news.
Dana Mantini
Senior Market Analyst
GENERAL COMMENTS:
December corn closed down 3 cents per bushel at $4.04 1/4 and March corn was
down 2 3/4 cents at $4.23 1/4. November soybeans closed down 20 3/4 cents at
$9.97 1/4 and January soybeans were down 20 1/4 cents at $10.15 1/4. December
KC wheat closed up 8 1/4 cents at $5.84 0/1, December Chicago wheat was up 5
3/4 cents at $5.74 1/4 and December Minneapolis wheat was up 1 1/2 cents at
$6.08 1/4.
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