DTN Closing Grain Comments 06/27 13:44
New Crop Corn Futures Plunge; Wheat Records Sixth Straight Down Day
December corn futures extended last week's price plunge by closing sharply
lower again. From high to low, Dec corn last week had fallen by over $1.00 per
bushel. Moderating temperatures, and some rain in the primary belt this week,
prior to the return of hot and dry weather next week, sent futures lower. Wheat
could not hold early gains, closing lower for the sixth straight day, while the
soy complex was higher.
Senior Market Analyst
July corn closed down 6 cents per bushel and December corn was down 21
cents. July soybeans closed up 19 3/4 cents and November soybeans were up 8 1/2
cents. September KC wheat closed down 19 1/2 cents, September Chicago wheat was
down 19 cents and September Minneapolis wheat was down 28 3/4 cents.
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