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DTN Closing Grain Comments 11/10 13:46
Grains, Oilseeds Higher to Begin WASDE Week
Row-crop markets moved higher in a quiet, low volume session Monday as
traders look to square positions ahead of the first USDA Crop Production and
WASDE report in two months, due out on Friday at 11 a.m. CST. In outside
markets on Monday, the headline news was a successful vote to pass the funding
bill on Sunday evening, which should put the U.S. government on a path to
reopening this week. Stock indices were firm on the news, with the S&P 500
gapping higher on the weekly open, though equities have since fallen from daily
highs on both the S&P and Dow Jones. In energy markets, crude oil futures moved
slightly higher in an overall mixed session. Meanwhile, the U.S. dollar
attempted to move higher for the first time in three sessions, but eventually
lost strength by early afternoon, continuing the retreat from last week's
3-month high mark.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
December corn closed up 2 1/2 cents and March corn was up 2 1/2 cents.
January soybeans closed up 13 cents and March soybeans were up 13 1/2 cents.
December KC wheat closed up 7 3/4 cents, December Chicago wheat was up 8 cents,
December MIAX Minneapolis wheat was up 6 1/4 cents.
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