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DTN Closing Grain Comments 11/25 13:39
Wheat Markets Pressure Ag Complex to Start Holiday Week
Thanksgiving week started with similarly mixed results to what has been the
feature of the trade for the past week or so. Recently, soybeans and wheat have
taken turns being the downside leader while corn remained more or less along
for the ride. Wheat markets took the driver's seat Monday, as traders remove
risk premium from the market stemming from the perceived escalation in the
Black Sea region which ended up being largely uneventful outside of further
posturing among world leaders involved. Overall, it will likely prove difficult
for the trade to make any significant price breakthroughs through this week as
volume behind the trade is not likely to have a lot of weight, especially the
closer we get to the holiday on Thursday. Expect a continuation of choppy trade
moving forward.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
March corn closed down 2 1/4 cents and May corn was down 2 3/4 cents.
January soybeans closed up 2 1/4 cents and March soybeans were up 2 cents.
March KC wheat closed down 8 1/2 cents, March Chicago wheat was down 9 cents
and March Minneapolis wheat was down 4 cents.
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