DTN Closing Grain Comments 06/07 13:47
Wheats, New-Crop Corn Take a Hit on Better Rain Chances, Slack Demand
In a very mixed Wednesday trade, new-crop corn futures fell sharply with the
better rain chances for next week, while wheat markets plunged on the continued
aggressive Russian wheat offers. Soybeans and soymeal futures rallied hard, led
by the spot July on very tight old-crop supplies and a firming basis in the
eastern belt, while new-crop beans fell.
Senior Market Analyst
July corn closed down 3 3/4 cents per bushel (bu) at 6.04 and December corn
was down 10 1/4 cents at 5.31. July soybeans closed up 7 1/2 cents at 13.61 and
November soybeans were down 6 1/4 cents at 11.79. July KC wheat closed down 32
1/4 cents at 7.88, July Chicago wheat was down 11 cents at 6.17 and July
Minneapolis wheat was down 25 cents at 7.92.
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