DTN Closing Grain Comments 08/16 13:43
Grain and Soy Markets Implode on Favorable Weather, Falling Crude and China
Good rains have fallen and are continuing to fall in some of the very driest
areas of the central and Western Corn Belt. That, coupled with concerns over
the China and world economies, and renewed recession fears, are combining to
sink grain and soy markets again. Crude oil has fallen below $86 per barrel for
the first time since March.
Senior Market Analyst
September corn closed down 15 3/4 cents per bushel and December corn was
down 18 cents. September soybeans closed down 39 3/4 cents and November
soybeans were down 31 1/4 cents. September KC wheat closed down 11 cents,
September Chicago wheat was down 14 3/4 cents and September Minneapolis wheat
was down 7 1/2 cents. The September U.S. Dollar Index is trading down 0.138 at
106.295. The Dow Jones Industrial Average is up 354.70 points at 34,267.14.
December gold is down $6.60 at $1,791.50, September silver is down $0.14 at
$20.13 and September copper is up $0.0190 at $3.6365. September crude oil is
down $3.02 at $86.39, September heating oil is up $0.0327, September RBOB is
down $0.0499 and September natural gas is up $0.621.