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DTN Closing Grain Comments 12/15 13:45
Row-Crop Markets Continue December Slump as Bears Shift Focus to South
America
Corn, soybean, and wheat futures fell again to begin the new week as
rainfall in South America through the first half of December has given way to
refreshed bearish supply concerns. Meanwhile, from a technical standpoint, if
prices are to continue selling off through the week and month, long standing
chart support levels will be tested. In outside markets for Monday, weaker
energy markets were a source of pressure to ag futures with crude oil futures
sinking further toward mid-October and 2025 calendar year lows. Meanwhile,
diesel prices have crashed back to earth over the past month, featuring only
five positive sessions since November 19. The U.S. Dollar Index was lower and
back toward support just above 98 on the Index.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
March corn closed down 1 cent and May corn was down 1 1/4 cents. January
soybeans closed down 5 cents and March soybeans were down 5 1/2 cents. March KC
wheat closed down 6 cents, March Chicago wheat was down 8 1/2 cents, March MIAX
Minneapolis wheat was down 7 cents.
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