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DTN Closing Grain Comments 11/07 13:47
Grains, Oilseeds Mixed in Quiet Week-Ending Session
Row-crop futures caught themselves for the most part on Friday following
Thursday's drastic risk-off session. The soybean complex was notably optimistic
heading into the weekend with higher soybean, meal, and oil futures following
heavy selling on Thursday. Meanwhile, corn futures held mostly steady while
wheat futures moved lower again under technical pressure as well as
follow-through disappointment in only light volumes being reportedly purchased
by China over the past week. Energy prices were mixed Friday with higher crude
futures but diesel prices reversing after hitting the highest price since
midsummer. Meanwhile, the technical unease remains in the stock market, with
the Dow Jones Industrial Average dropping again Friday for the fourth time this
week after low consumer sentiment was reported by the University of Michigan on
Friday and investor fears of a tech and AI-driven reversal mount.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
December corn closed down 1 1/2 cents and March corn was down 1 cent.
January soybeans closed up 9 1/2 cents and March soybeans were up 8 1/4 cents.
December KC wheat closed down 3 cents, December Chicago wheat was down 7 3/4
cents, December MIAX Minneapolis wheat was up 1 cent.
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