DTN Closing Grain Comments 12/07 13:45
Soybeans, Bean Oil Close Sharply Lower, Reversing Early Gains
Early gains in soybean futures on Tuesday were short-lived as the quick
reversal in bean oil sent soybean futures reeling at midday. Soybeans were able
to recover a bit, but renewed weakness sent the market to big losses. Wheat and
corn, in two-sided trade, firmed to finish with only modest gains.
Senior Market Analyst
December corn closed up 2 3/4 cents per bushel and March corn was up 2 1/2
cents. January soybeans closed down 11 1/4 cents and March soybeans were down 8
1/4 cents. March KC wheat closed up 5 cents, March Chicago wheat was up 2 1/4
cents and March Minneapolis wheat was up 9 1/4 cents. The December U.S. Dollar
Index is trading up 0.055 at 96.385. The Dow Jones Industrial Average is up
511.07 points at 35,738.10. February gold is up $6.30 at $1,785.80, March
silver is up $0.29 at $22.56 and March copper is up $0.0030 at $4.3405. January
crude oil is up $2.61 at $72.10, January heating oil is up $0.0557, January
RBOB is up $0.0593 and January natural gas is up $0.032.