DTN Closing Grain Comments 01/30 13:59
Soybean Meal Soars to New High on Argentine Weather, Bringing Soybeans Along
China has returned from the week-long Lunar New Year holiday, featuring big
gains in their corn and soy markets, and Argentine weather is again forecast to
turn dry following weekend rains. That has propped up the soy market, led by
the surging meal market, while KC wheat is on a five-day winning streak on fund
short covering and the threat of winterkill.
Senior Market Analyst
March corn closed up 3/4 cent per bushel and May corn was up 1 1/4 cents.
March soybeans closed up 25 3/4 cents and May soybeans were up 25 cents. March
KC wheat closed up 4 1/2 cents, March Chicago wheat was up 2 1/2 cents and
March Minneapolis wheat was down 1 1/4 cents. The March U.S. Dollar Index is
trading up 0.384 at 102.105. The Dow Jones Industrial Average is down 172.85
points at 33,805.23. February gold is down $6.70 at $1,922.70, March silver is
up $0.07 at $23.70 and March copper is down $0.0360 at $4.1865. March crude oil
is down $1.74 at $77.94, March heating oil is down $0.1203, February RBOB is
down $0.0856 and March natural gas is down $0.174.
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