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DTN Closing Grain Comments 12/02 13:44
Wheat Markets Lead Risk-on Day With Demand Rumors, Russia-Ukraine Conflict
in Focus
Grains and the soy complex moved sharply higher Thursday, led by wheat
futures markets. The markets in general, appear to be more at ease with early
indications that the new omicron variant of COVID seems to be milder and risk
managers are re-entering the long side of energy, equity and ag markets. Wheat
is also gaining some support on reports of increasing tensions between Russia
and Ukraine and rumors of hard red interest.
Dana Mantini
Senior Market Analyst
GENERAL COMMENTS:
December corn closed up 5 cents per bushel and March corn was up 5 1/4
cents. January soybeans closed up 16 cents and March soybeans were up 15 cents.
March KC wheat closed up 23 cents, March Chicago wheat was up 24 1/2 cents and
March Minneapolis wheat was up 23 1/4 cents. The December U.S. Dollar Index is
trading up 0.071 at 96.095. The Dow Jones Industrial Average is up 706.07
points at 34,728.11. February gold is down $18.60 at $1,765.70, March silver is
up $0.06 at $22.40 and March copper is up $0.0460 at $4.2935. January crude oil
is up $0.53 at $66.10, January heating oil is up $0.0184, January RBOB is up
$0.0119 and January natural gas is down $0.180.
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