DTN Closing Grain Comments 03/01 13:53
Wheat Crashes on Weaker EU, Russian Values; Corn Winning Streak Ends
Wheat markets plunged Friday, pressured by weaker EU wheat prices; Paris
milling wheat fell to a new low, the fifth lower close in the past six days.
Soybeans and soymeal were able to overcome the other bearish markets to finish
higher. Corn was under heavy pressure for much of the day, ending the four-day
rally from the contract lows.
Senior Market Analyst
May corn closed down 4 3/4 cents per bushel, May soybeans were up 10 1/2
cents per bushel. May KC wheat finished down 22 3/4 cents per bushel, May
Chicago wheat settled down 18 1/2 cents per bushel and May Minneapolis wheat
closed down 15 1/4 cents.
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