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DTN Closing Grain Comments 09/09 13:45
Soybeans, Soybean Oil Move Higher While Corn, Chicago Wheat Finish Firm;
Minneapolis Lower
Soybeans jumped into positive territory Monday with soybean oil along for
the ride. A new sale of soybeans was announced again to China, but it was just
4.9 million bushels. With an 80- to 90-cent per bushel discount to Brazil FOB
offers, I think we will soon see additional sales to China. Corn and wheat were
around unchanged in very quiet trade with little news. Minneapolis was the
exception, closing lower on bearish Canadian stocks. Traders still expect USDA
to reveal record yields on both corn and soy Thursday.
Dana Mantini
Senior Market Analyst
GENERAL COMMENTS:
December corn closed up 1 cent per bushel at $4.07 1/4 and March corn was up
1 1/2 cents at $4.26. November soybeans closed up 13 cents at $10.18 and
January soybeans were up 13 cents at $10.36 1/2. December KC wheat closed down
1 3/4 cents at $5.76 3/4, December Chicago wheat was up 1 1/2 cents at $5.69
1/2 and December Minneapolis wheat was down 6 1/2 cents at $6.07 1/4.
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