DTN Closing Grain Comments 11/27 13:42
Corn, Wheat Fall to New Contract Lows; Soy Products Finish Slightly Firmer
Corn and wheat futures plunged into new contract lows Monday. Chicago wheat
led the donnybrook, while Kansas City wheat hit another new contract low on the
way to its tenth lower close in just the past 12 days. March corn broke through
the previous low, falling to $4.73. Soybeans, getting some help from firmer
products, fell slightly to once again challenge key support at $13.25 on
January and finished steady. Despite good export and domestic demand, the
record corn harvest is weighing on the market, while in wheat, U.S. exporters
are still searching for demand.
Senior Market Analyst
March corn closed down 7 1/4 cents per bushel, January soybeans finished
down 1 cent per bushel. March KC wheat settled down 15 cents per bushel, March
Chicago wheat is down 16 1/4 cents per bushel and March Minneapolis wheat
closed down 15 1/2 cents.
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