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DTN Closing Grain Comments 11/11 13:42
Row Crops Mixed in Quiet Veterans Day Session
In honor of Veterans Day, U.S. banks as well as the bond market was closed
on Tuesday. Canadian markets were also closed for Remembrance Day. Naturally,
the resulting trade in grain futures was a low volume and stable session. It is
likely we will see activity pick up toward the end of the week as traders begin
to position around the first WASDE report since early September, which is due
out on Friday at 11 a.m. CST. Outside markets were mostly positive influence on
ag markets for Tuesday, with energy futures moving higher and the diesel market
impressive at its highest price since late June. The U.S. dollar continues to
retreat from last week's highs while stocks were mostly positive Tuesday, with
the Dow Jones Industrial Average riding a 3-day bullish wave spurred on by
optimism that the government will soon reopen following the Senate's successful
vote on the funding package which will now go back to the House for approval.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
December corn closed up 2 1/4 cents and March corn was up 2 1/2 cents.
January soybeans closed down 2 3/4 cents and March soybeans were down 1 1/4
cents. December KC wheat closed down 3 1/4 cents, December Chicago wheat was up
1/4 cents, December MIAX Minneapolis wheat was up 5 1/4 cents.
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