DTN Closing Grain Comments 05/18 13:51
Wheat Leads Grain Prices Lower With More Risk-Off Selling
Wheat prices that reached new contract highs Tuesday were turned sharply
lower Wednesday, partly due to traders nervous about outside markets and partly
due to rain in next week's forecast that will only offer limited benefit to the
HRW wheat crop. With Dow Jones futures down over 1,000 points, Wednesday
afternoon's commodity board was nearly entirely red.
DTN Lead Analyst
July corn closed down 19 1/4 cents and December corn was down 20 1/2 cents.
July soybeans closed down 15 1/4 cents and November soybeans were down 26
cents. July KC wheat closed down 43 1/4 cents, July Chicago wheat was down 46
3/4 cents and September Minneapolis wheat was down 38 1/4 cents. The June U.S.
Dollar Index is trading up 0.34 at 103.75. The Dow Jones Industrial Average is
down 1,052.10 points at 31,602.49. June gold is down $2.40 at $1,816.50, May
silver is down $0.29 at $21.47 and May copper is down $0.0790. June crude oil
is down $2.90 at $109.50, June heating oil is down $0.1456, June RBOB gasoline
is down $0.2247 and June natural gas is up $0.076.
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