DTN Closing Grain Comments 05/20 14:00
Grain, Soy Markets Crash Wednesday on Good Weather, Iran Peace Hopes
Corn and soybean futures led markets lower on Wednesday, pressured by a
favorable forecast over the next few weeks and some renewed optimism that
negotiators could be making some progress on an Iran peace deal. Bean oil
futures fell along with crude oil, which at the time of writing, was down more
than $6 per barrel.
Dana Mantini
Senior Market Analyst
GENERAL COMMENTS:
July corn closed down 9 1/2 cents per bushel at $4.65 3/4 and September
closed down 9 cents per bushel at $4.72 1/2 and July soybeans closed down 9 3/4
cents at $11.99 3/4 and August soybeans were down 10 1/2 cents at $11.99 1/4.
July KC wheat closed down 5 cents at $6.98 3/4, July Chicago wheat was down 6
3/4 cents at $6.60 1/2 and MIAX July Minneapolis wheat was down 0.01 cents at
$6.945.
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