DTN Closing Grain Comments 01/26 13:55
Soybeans Surge to 7-Month High; Wheat Markets in Sharp Correction
Following early week gains which amounted to over 50 cents per bushel for
both Chicago and Kansas City wheat, all three wheat markets corrected on
Wednesday. Corn futures hovered close to unchanged early but closed with solid
gains. The entire soy complex rose sharply, with spot soybeans reaching the
highest level since June 7 and bean oil nearing the recent high.
Senior Market Analyst
March corn closed up 7 cents per bushel and December corn was up 3 cents.
March soybeans closed up 32 3/4 cents and November soybeans were up 15 1/2
cents. March KC wheat closed down 18 3/4 cents, March Chicago wheat was down 23
cents and March Minneapolis wheat was down 31 cents. The March U.S. Dollar
Index is trading up 0.142 at 96.070. The Dow Jones Industrial Average is up
336.37 points at 34,634.10. February gold is down $21.70 at $1,830.80, March
silver is down $0.01 at $23.89 and March copper is up $0.0650 at $4.5150. March
crude oil is up $1.77 at $87.37, March heating oil is up $0.0629, March RBOB is
up $0.0598 and March natural gas is up $0.151.