DTN Closing Grain Comments 02/09 13:55
Grain and Soybeans Leak Lower, Bean Oil Surges to Highest Since July
Grain and soybean markets fell Monday, led by soybeans and soymeal as the
Argentine rain outlook has brightened and soy premiums in South America fell,
making the U.S. less competitive. Soybean oil bucked the bearish trend and
rallied along with crude oil.
Dana Mantini
Senior Market Analyst
GENERAL COMMENTS:
March corn closed down 1 1/2 cents per bushel at $4.28 3/4 and May closed
down 1 3/4 cents per bushel at $4.37 and March soybeans closed down 4 1/2 cents
at $11.10 3/4 and May soybeans were down 3 3/4 cents at $11.25. March KC wheat
closed down 2 1/2 cents at $5.28 3/4, March Chicago wheat was down 1 cent at
$5.28 3/4 and MIAX March Minneapolis wheat was up 1/2 cent at $5.70 1/2.
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