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DTN Closing Grain Comments 10/13 13:47
Futures Retreat From Early Highs as Trade Remains Muted
The ag trade remained quiet on Tuesday as row crop futures traded mixed,
holding recent chart support but unable to sustain early gains. Across the
Midwest, harvest is advancing ahead of another round of rainfall this week,
which looks to intensify in the 6- to 10-day outlook. USDA will release their
next Crop Progress update after the close on Tuesday. Energy markets were firm
again on Tuesday, with crude futures higher for a fourth straight session as
both regional conflicts in the Black Sea and Middle East continue with no clear
end in sight.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
December corn closed down 1/4 cent and March corn was down 3/4 cents.
November soybeans closed down 4 cents and January soybeans were down 4 3/4
cents. December KC wheat closed down 3 cents, December Chicago wheat was down 3
cents, December MIAX Minneapolis wheat was down 2 1/4 cents.
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