DTN Closing Grain Comments 06/11 14:08
Markets Mixed After Quiet USDA Offering Thursday
Corn and soybean futures moved lower Thursday in response to the June issue
of the World Agricultural Supply and Demand Estimates (WASDE) from USDA, though
soybean traders may have been more reactive to another sluggish round of export
data released Thursday morning. As for wheat, the historically small U.S. crop
once again was reduced, supporting U.S. prices while the world situation
remains hazy. Outside markets also leaned bearish on ag futures with energy
markets turning lower after President Trump canceled a planned third day of
strikes against Iran, stating the Iranian leadership had approved the latest
negotiations and efforts for a lasting peace deal.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
July corn closed down 7 1/4 cents and December corn was down 7 1/4 cents.
July soybeans closed down 8 cents and November soybeans were down 4 1/2 cents.
July KC wheat closed up 4 1/4 cents, July Chicago wheat was down 3/4 cents,
July MIAX Minneapolis wheat was up 1 1/2 cents.
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