DTN Closing Grain Comments 05/26 13:57
Soybeans Soar and Wheat Recovers From More Early Selling
Pressured by the not so trustworthy Russian claim that they would open
shipping corridors for the export of Ukraine grain in return for some sanctions
being lifted, wheat rallied in disbelief, before finishing mixed. The key is
that lifted sanctions as a condition is unlikely to happen any time soon.
Soybeans soared, led by spot July, as products also rallied sharply, bean oil
benefitting from the surge in crude oil and old-crop soy exports keep creeping
Senior Market Analyst
July corn closed down 7 1/4 cents per bushel and December corn was down 4
1/2 cents. July soybeans closed up 45 1/2 cents and November soybeans were up
32 cents. July KC wheat closed down 4 3/4 cents, July Chicago wheat was down 5
cents and July Minneapolis wheat was up 13 1/2 cents. The June U.S. Dollar
Index is trading down 0.207 at 101.870. The Dow Jones Industrial Average is up
600.05 points at 32,720.33. June gold is up $1.30 at $1,847.60, July silver is
up $0.10 at $21.97 and July copper is up $0.0095 at $4.2640. July crude oil is
up $3.76 at $114.09, July heating oil is up $0.1046, July RBOB is up $0.0707
and July natural gas is down $0.099.
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