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DTN Closing Grain Comments 09/12 13:53
Corn Futures Dip on Record WASDE Report Yield but Recover; Soybeans and
Products Finish Firm on Neutral Report
Corn futures fell hard after the release of the September WASDE as USDA, in
their first in-field survey this season, found a record yield for corn at 183.6
bpa. Down close to 8 cents at one point, December corn came roaring back to
finish higher by the close. After a mostly neutral report for both soybeans and
wheat, soybeans and soy products closed firm while wheat was a mixed affair.
Dana Mantini
Senior Market Analyst
GENERAL COMMENTS:
December corn closed up 1 1/4 cents per bushel at $4.06 and March corn was
up 1 cent at $4.25 1/2. November soybeans closed up 10 1/4 cents at $10.11 3/4
and January soybeans were up 10 1/2 cents at $10.30 1/2. December KC wheat
closed down 2 cents at $5.86 1/4, December Chicago wheat was down 3/4 cent at
$5.79 1/2 and December Minneapolis wheat was up 5 1/4 cents at $6.22 3/4.
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