DTN Closing Grain Comments 12/01 13:41
Soybeans, Soy Oil Plummet; Corn, Wheat Falter on Poor Export Demand
Soybean oil led the way lower, dragging the soy market to huge losses as
well. Disappointment on proposed EPA volume obligations, bearish South American
weather, and news that Argentina is selling more soybeans to China are feeding
into the weakness. Wheat and corn both featured low weekly export sales,
sending those two markets reeling again.
Senior Market Analyst
March corn closed down 6 1/2 cents and July corn was down 5 3/4 cents.
January soybeans closed down 39 3/4 cents and July soybeans were down 37 1/2
cents. March KC wheat closed down 9 1/2 cents, March Chicago wheat was down 12
1/2 cents and December Minneapolis wheat was down 4 1/2 cents. The December
U.S. Dollar Index is trading down 1.15 at 104.75. The Dow Jones Industrial
Average is down 200.99 points at 34,388.78. December gold is up $56.30 at
$1,816.20, December silver is up $1.16 at $22.94 and December copper is up
$0.060. December crude oil is up $0.97 at $81.52, December ultra-low sulfur
diesel is down $0.0913, December RBOB gasoline is down $0.0335 and December
natural gas is down $0.179.
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