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DTN Closing Grain Comments 10/16 13:45
Row Crops Move Higher as Traders Turn Focus to Strong Domestic Demand
Corn, soybean and (for the most part) wheat markets were higher on Thursday
as traders continue to speculate how far production in 2025 could fall from
prior estimates amid talk of lower-than-expected yields. Compounding that
effect were reminders this week that the demand for U.S. grains and oilseeds
remains very strong, especially within the U.S. Outside markets were mixed on
Thursday as renewed trade war concerns are weighing on equities, with the Dow
Jones Industrial Average down for the seventh time in the past ten session.
Energy markets are also lower, closing in on May lows for crude oil futures.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
December corn closed up 5 cents and March corn was up 3 1/4 cents. November
soybeans closed up 4 1/4 cents and January soybeans were up 4 1/4 cents.
December KC wheat closed up 1/2 cents, December Chicago wheat was up 3 3/4
cents, December MIAX Minneapolis wheat was down 1 1/2 cents.
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