DTN Closing Grain Comments 02/06 14:06
Soybean Prices Deflate, Pulled Lower by Meal, Chinese Balloon Incident
March soybeans fell 10 3/4 cents Monday, influenced by a $7.50 drop in March
soybean meal as traders looked a little spooked after the Chinese government
acted offended the U.S. shot down its balloon. Corn managed to eke out a gain
of 1 1/2 cents with help from sales reported to Japan and Mexico.
DTN Lead Analyst
March corn closed up 1 1/2 cents and July corn was up 3 1/4 cents. March
soybeans closed down 10 3/4 cents and July soybeans were down 9 1/2 cents.
March KC wheat closed up 3 cents, March Chicago wheat was down 6 1/2 cents and
March Minneapolis wheat was down 4 cents. The March U.S. Dollar Index is
trading up 0.74 at 103.50. The Dow Jones Industrial Average is down 35.12
points at 33,890.89. April gold is up $1.80 at $1,878.40, March silver is down
$0.16 at $22.25 and March copper is down $0.0205. March crude oil is up $0.96
at $74.35, March ultra-low sulfur diesel is down $0.0054, March RBOB gasoline
is up $0.0562 and March natural gas is up $0.065.
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