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DTN Closing Grain Comments 09/06 13:55
Soybeans, Bean Oil, Wheat Markets Plunge; Corn Lower as Financial Markets
Crater; Crude Oil Falls Again
Early strength in ag markets did not last Friday as soybeans, bean oil and
wheat led the way lower. Bean oil was pressured by the fall in canola and crude
oil futures. Wheat and corn markets rebuffed early strength to finish lower for
the second straight day. Soybean meal futures were able to weather the bearish
storm on the heels of big new-crop export sales, but slipped late to finish in
the red.
Dana Mantini
Senior Market Analyst
GENERAL COMMENTS:
December corn closed down 4 1/2 cents per bushel at $4.06 1/4 and March corn
was down 4 3/4 cents at $4.25 1/2. November soybeans closed down 18 1/2 cents
at $10.05 0/1 and January soybeans were down 19 cents at $10.23 1/2. December
KC wheat closed down 11 1/4 cents at $5.78 1/2, December Chicago wheat was down
7 3/4 cents at $5.67 0/1 and December Minneapolis wheat was down 12 cents at
$6.13 3/4.
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