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DTN Closing Grain Comments 11/30 13:56
Corn Rises on Improving Export Sales; KC Wheat Extends Rally on Fund Buying;
Soy Fades
March corn futures finally got a boost from Wednesday's new contract low,
getting support from last week's improved export number and a solid
year-over-year improvement in sales. Soybeans and products backed up a bit on
Thursday, pressured by the falling bean and crude oil markets. Wheat extended
the recovery for another day as technical buying and likely fund short-covering
drove KC March nearly 50 cents higher than Tuesday's contract low.
Dana Mantini
Senior Market Analyst
GENERAL COMMENTS:
March corn closed up 7 cents per bushel at $4.82 3/4, January soybeans are
down 4 1/4 cents per bushel at $13.42 3/4. March KC wheat finished up 8 3/4
cents per bushel at $6.43, March Chicago wheat closed up 12 1/4 at $5.98, and
Minneapolis March finished up 4 1/4 cents at $7.29 .
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