DTN Closing Grain Comments 05/07 14:14
Corn, Soy Futures Race to New Highs; China Buys US New-Crop Corn
Old- and new-crop corn and soybean futures rose sharply in Thursday
overnight trade and again Friday, setting new contract highs and led by
November beans. World veg oils -- including palm oil, canola and bean oil --
all set new highs. Minneapolis wheat soared to another new high on expanding
drought in the Northern Plains, but only finished slightly higher.
Senior Market Analyst
July corn finished up 13 1/2 cents per bushel, July soybeans closed up 20
1/4 cents, July KC wheat is closed up 10 cents, July Chicago wheat settled up 8
1/2 cents and September Minneapolis wheat finished up 3 1/4 cents. The June
U.S. Dollar Index is trading down 0.671 at 90.265. The Dow Jones Industrial
Average is up 223.88 points at 34,772.41. June gold is up $16.50 at $1,832.20,
July silver is up $0.08 at $27.56 and July copper is up $0.1370 at $4.7395.
June crude oil is up $0.19 at $64.90, June heating oil is up $0.0203, June RBOB
is up $0.0136 and June natural gas is up $0.030.
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