DTN Closing Grain Comments 02/21 13:59
Corn Falls to Another New Low; Wheat, Soybeans, Soy Products Move Lower
Tuesday strength did not last long as grain and soy markets plunged on
Wednesday, led by spot corn futures which fell to another new contract low.
Beneficial South American weather, an insatiable desire by funds to increase
short positions, and lack of competitiveness for both U.S. soybeans and wheat
weighed on markets again.
Senior Market Analyst
March corn closed down 7 3/4 cents per bushel, March soybeans were down 18
1/4 cents per bushel. May KC wheat finished down 6 1/2 cents per bushel, May
Chicago wheat was down 1 1/4 cents per bushel and May Minneapolis wheat closed
down 4 cents.
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