EHedger Closing Grains Commentary 10/28/09
Oct 28, 2009
SETTLEMENTS 10/28
|
Dec 09 Corn
|
369
|
- 1 ¾
|
|
Nov 09 Beans
|
968 ½
|
- 5
|
|
Dec 09 Wheat
|
494 ¾
|
- 8 ½
|
|
Dec 09 KC Wheat
|
502 ¼
|
- 8 ¼
|
|
Dec 09 Min Wheat
|
519
|
- 7 ½
|
|
Dec 09 Meal
|
291.3
|
+ 3.7
|
|
Dec 09 Oil
|
36.86
|
- 0.62
|
Corn, soybeans and wheat all closed sharply lower. Today was similar to yesterday. Another rally in the U.S. dollar caused a sell-off in the equities and the commodities. The Delta and Midwest look to get some additional rains late this week, but next week looks mostly dry. Corn, soybeans and wheat have all setback to key technical levels. Weather and the U.S. dollar will likely dictate which direction we head from here.
Due to the rally in October... For more…
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