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DTN Closing Grain Comments 03/24 13:45
Corn, Wheat Recover Tuesday While Soybeans Slip
In many ways, Tuesday's session was the opposite of Monday, an unwinding of
risk-off positions following comments by President Trump signaling the first
real peace negotiations of the war with Iran, something that has been
officially disputed by Iran in the past day. Grain markets recovered along with
crude oil futures, while soybeans again broke away from most row crops to trade
lower. Also, unlike Monday's session, volatility took a step back with much
narrower price ranges for futures. Equity markets were mixed Tuesday, with the
Dow Jones Industrial Average working toward a second straight session higher, a
rare feat over the past few weeks.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
May corn closed up 3 cents and July corn was up 2 cents. May soybeans closed
down 8 1/2 cents and July soybeans were down 7 1/2 cents. May KC wheat closed
up 3/4 cents, May Chicago wheat was up 2 1/4 cents, May MIAX Minneapolis wheat
was up 4 1/4 cents.
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