DTN Closing Grain Comments 05/17 13:48
Wheat Rebuffs Early Weakness to Rise to New Highs Again
After early morning weakness tied to some profit-taking following Monday's
limit-up move, all three wheat markets recovered in very wide-range trade, with
both hard wheat markets scoring new highs. Corn and soybeans were mixed in
two-sided trade, with corn down and July beans finishing sharply higher.
Senior Market Analyst
July corn closed down 8 3/4 cents per bushel and December corn was down 4
3/4 cents. July soybeans closed up 21 1/2 cents and November soybeans were up
13 1/2 cents. July KC wheat closed up 15 3/4 cents, July Chicago wheat was up
30 cents and July Minneapolis wheat was up 9 1/4 cents. The June U.S. Dollar
Index is trading down 0.680 at 103.520. The Dow Jones Industrial Average is up
201.52 points at 32,424.94. June gold is up $2.10 at $1,816.10, July silver is
up $0.04 at $21.60 and July copper is up $0.0265 at $4.2180. June crude oil is
down $1.40 at $112.80, June heating oil is down $0.0938, June RBOB is down
$0.0729 and June natural gas is up $0.360.