DTN Closing Grain Comments 06/01 13:49
New-Crop Corn, Soybean Prices Higher as Drought Monitor Raises Concerns
December corn closed up 8 1/4 cents and November soybeans were up 22 1/2
cents after Thursday's U.S. Drought Monitor showed an expansion of abnormally
dry conditions throughout the Midwest. A second manufacturing index from China
contradicted Wednesday's bearish news and showed slight expansion in May,
giving soybean prices extra lift Thursday.
Todd Hultman
DTN Lead Analyst
GENERAL COMMENTS:
July corn closed down 1 1/2 cents and December corn was up 8 1/4 cents. July
soybeans closed up 29 3/4 cents and November soybeans were up 22 1/2 cents.
July KC wheat closed up 12 cents, July Chicago wheat was up 16 1/2 cents and
September Minneapolis wheat was up 8 1/4 cents.
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