|
DTN Closing Grain Comments 10/15 13:47
Row-Crop Futures Steady as Traders Weigh Bullish, Bearish Arguments
For the most part, grains and oilseed markets were steady to slightly higher
at midweek as traders continue to form price opinions without input from USDA
and other government agency reports. The latest development in the U.S.-China
trade war was President Trump's comments late Tuesday that the U.S. is
preparing to restrict Chinese imports on goods such as cooking oil in
retaliation to the boycott of U.S. soybeans, which supported U.S. soybean oil
futures on Wednesday. Meanwhile, equity markets were higher, more-or-less
recovering losses from last week's trade scare as investors continue to shrug
off greater trade war concerns. Energy markets were lower again Wednesday, with
crude oil futures closing in once again on May lows which were at the time the
lowest price in over four years.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
December corn closed up 3 3/4 cents and March corn was up 3 cents. November
soybeans closed unchanged and January soybeans were unchanged as well. December
KC wheat closed down 1/4 cents, December Chicago wheat was down 1 1/2 cents,
December MIAX Minneapolis wheat was down 2 1/2 cents.
Get your local Cash Bids emailed to you each morning from DTN – click here to sign up for DTN Snapshot.
|
|