DTN Closing Grain Comments 04/13 13:54
New-Crop December Corn Futures Roar to a New Contract High for Fifth
Straight Gain; Bean Oil Resumes Rise
Tuesday morning trade started quietly but did not stay that way for long.
Soybean oil surged higher, dragging soybeans along, and new-crop December corn
scored another new contract high and a fifth consecutive higher close. May corn
futures rallied sharply as well, with the calendar spreads illustrating the
strengthening cash basis, with cash now above delivery value.
Senior Market Analyst
May corn closed up 11 cents per bushel, May soybeans finished up 7 1/2
cents, May KC wheat closed up 5 3/4 cents, May Chicago wheat closed up 1 3/4
cents and July Minneapolis wheat finished up 5 3/4 cents. The Dow Jones
Industrial Average is down 73.66 points and May crude oil is up $0.55 per
barrel. The U.S. Dollar Index is down 0.290 and June gold is up $14.20 per
ounce. The June U.S. Dollar Index is trading down 0.294 at 91.850. The Dow
Jones Industrial Average is down 79.54 points at 33,665.86. June gold is up
$13.60 at $1,746.30, May silver is up $0.55 at $25.42 and May copper is up
$0.0155 at $4.0340. May crude oil is up $0.58 at $60.28, May heating oil is up
$0.0084, May RBOB is up $0.0070 and May natural gas is up $0.065.
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