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DTN Closing Grain Comments 12/05 13:53
Wheat Falls Further on Record Crop Estimate for Australia
March contracts of all three U.S. wheats suffered losses after Australia's
government estimated a record wheat crop for 2022-23, soon to be harvested.
Corn and soybeans were also lower, pressured by lower energy prices and a
higher U.S. dollar in outside markets.
Todd Hultman
DTN Lead Analyst
GENERAL COMMENTS:
March corn closed down 5 3/4 cents and July corn was down 4 3/4 cents.
January and July soybeans were each down 3/4 cent. March KC wheat closed down
29 cents, March Chicago wheat was down 22 cents and March Minneapolis wheat was
down 19 cents. The December U.S. Dollar Index is trading up 0.76 at 105.26. The
Dow Jones Industrial Average is down 522.61 points at 33,907.27. February gold
is down $30.60 at $1,779.0, March silver is down $0.88 at $22.37 and March
copper is down $0.0670. January crude oil is down $2.90 at $77.08, January
ultra-low sulfur diesel is down $0.1761, January RBOB gasoline is down $0.0765
and January natural gas is down $0.711.
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