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DTN Closing Grain Comments 01/16 13:46
Wheat Leads Row Crops to Positive Friday Close Ahead of Long Weekend
Markets continued recovery efforts on Friday to close the week with
relatively minimized losses in wheat and soybean futures, while Monday's plunge
still leaves the corn market with a significant weekly turn lower. Grain
markets will be closed on Monday in observance of Martin Luther King Jr. Day.
Wheat was the flagship of the group for Friday, moving double digits higher on
increased weather risk for U.S. crops through the weekend. Outside markets were
mixed to close the week, with a firm U.S. Dollar on higher Treasury yields,
while energy markets recovered from Thursday's risk-off session.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
March corn closed up 4 1/2 cents and May corn was up 4 1/4 cents. March
soybeans closed up 4 3/4 cents and May soybeans were up 4 1/2 cents. March KC
wheat closed up 10 cents, March Chicago wheat was up 7 1/2 cents, March MIAX
Minneapolis wheat was up 2 1/2 cents.
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