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DTN Closing Grain Comments 12/06 13:45
Corn Futures End Week With Solid Move Higher Ahead of USDA Report Tuesday
Trading volumes were a mixed bag this week as participation remains on the
lower end of the spectrum post U.S. harvest. We should see an uptick next week
as traders will turn to the USDA for adjustments to the demand side of U.S.
balance sheets. Currently, corn is receiving the majority of the attention with
traders on average estimating an increase in corn demand and subsequent
reduction is ending stocks in Tuesday's release. This has corn prices almost a
dime higher over two sessions in anticipation, while soybean futures tread
water in the face of a hazier near-term outlook in regard to demand.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
March corn closed up 5 cents and May corn was up 4 3/4 cents. January
soybeans closed down 0 cents and March soybeans were up 1/4 cents. March KC
wheat closed up 1 1/4 cents, March Chicago wheat was down 1 cent and March
Minneapolis wheat was down 2 cents.
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