DTN Closing Grain Comments 12/08 13:39
Solid Gains for Soybeans and Soy Meal; Winter Wheat Markets Crumble
Early on Wednesday, there was little reason to be positive beans or the soy
complex. However, midmorning saw both soybeans and meal pop up quickly, leading
to a reversal of sorts. Despite a huge sale of 72.6 million bushels of corn to
Mexico, corn was lucky to end higher. Wheat had a red screen day, with winter
wheat markets suggesting more weakness ahead, while Minneapolis held up okay.
Senior Market Analyst
December corn closed down 1 1/2 cents per bushel and March corn was up 1 1/4
cents. January soybeans closed up 10 3/4 cents and March soybeans were up 10
1/2 cents. March KC wheat closed down 15 1/2 cents, March Chicago wheat was
down 14 cents and March Minneapolis wheat was down 3/4 cent.
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