DTN Closing Grain Comments 10/04 14:01
Soybean Oil Leads Soybeans Higher; Corn Keeps Rally Going as Dollar Plunges
As world and U.S. financial markets took on a much more optimistic tone
Tuesday, corn and soy markets moved higher and wheat finished mostly mixed to
lower, rebuffing early strength. Energy, metal, and equity markets rallied
sharply for the second straight day and the U.S. Dollar Index plummeted just
five days after making a new contract high. Ideas of a more dovish policy in
the future from the Federal Reserve fueled the outside advance.
Senior Market Analyst
December corn closed up 2 1/4 cents per bushel and March corn was up 2 1/2
cents. November soybeans closed up 9 1/2 cents and January soybeans were up 9
1/2 cents. December KC wheat closed unchanged, December Chicago wheat was down
9 cents and December Minneapolis wheat was down 4 1/2 cents. The December U.S.
Dollar Index is trading down 1.456 at 110.200. The Dow Jones Industrial Average
is up 690.46 points at 30,181.35. December gold is up $31.30 at $1,733.30,
December silver is up $0.51 at $21.10 and December copper is up $0.0825 at
$3.4925. November crude oil is up $2.91 at $86.54, November heating oil is up
$0.1657, November RBOB is up $0.1711 and November natural gas is up $0.379.
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