DTN Closing Grain Comments 12/07 13:54
Energy Prices Fall, Crops Push Higher Wednesday
Active contracts of corn, soybeans and all three U.S. wheats finished higher
Wednesday, supported again by drought concerns in Argentina and possibly by
short-covering ahead of Friday's WASDE report. The U.S. Energy Department
reported a busy week for refineries, adding to gasoline and distillate supplies
with winter drawing near.
DTN Lead Analyst
March corn closed up 4 cents and July corn was up 3 3/4 cents. January
soybeans closed up 17 cents and July soybeans were up 15 1/2 cents. March KC
wheat closed up 18 3/4 cents, March Chicago wheat was up 20 1/2 cents and March
Minneapolis wheat was up 6 cents. The December U.S. Dollar Index is trading
down 0.50 at 105.04. The Dow Jones Industrial Average is down 38.36 points at
33,557.98. February gold is up $17.30 at $1,799.70, March silver is up $0.55 at
$22.89 and March copper is up $0.040. January crude oil is down $2.21 at
$72.04, January ultra-low sulfur diesel is down $0.1377, January RBOB gasoline
is down $0.0659, and January natural gas is up $0.279.
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