DTN Closing Grain Comments 01/10 14:20
Ag Markets Firm Following Mostly Supportive USDA Estimates
USDA report figures Friday came in mostly as traders expected with the
degree of changes perhaps lending a more bullish twist than initially thought,
especially in regard to domestic U.S. balance sheets. Outside market influence
was mixed to close the week as equities continue to spill into the New Year on
renewed inflationary concerns, causing commodities such as gold to rally over
the past several days. The U.S. Dollar Index was also stronger but was largely
ignored in light of the USDA report numbers driving the market.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
March corn closed up 14 1/2 cents and May corn was up 15 cents. March
soybeans closed up 26 1/4 cents and May soybeans were up 27 1/4 cents. March KC
wheat closed up 1 1/2 cents, March Chicago wheat was down 3 1/4 cents, March
Minneapolis wheat was up 3/4 cents.
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