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Market News Details

DTN Closing Grain Comments

DTN Closing Grain Comments    04/18 13:55
   Grains Quietly Mixed Ahead of a Long Weekend

   After starting the day with bearish export numbers for soybeans and wheat,
and faced with Thursday's higher U.S. dollar, markets showed little response.
Corn and soybeans finished slightly higher, while the three U.S. wheats ended
with small losses.

Wheat Commentary

No daily commentary available

Other Commentary

Good evening, May corn finished up ¬ľ of a cent, beans up 1.5 cents, and wheat down 2.75. Generally benign session today going into a long weekend. More pork exports were reported to China which might end up being a timely add in to a trade deal solving the issues of lowering trade deficit and stabilizing the price of pork. The WTO ruled in favor to the US vs China in a complaint against the Chinese use of Tariff Rate Quotas. One would assume this is helpful to the US hand when it comes to the trade agreement. But, its not really the time for assumptions‚Ķ Market is still anxious for the outcome of the trade war and funds are still grinding their short position axe. Big crops down south (are getting bigger) with the US farmer not far from planting are making supply forecasts look massive. Rain in the forecast keeping ground wet and field work minimal. Market will continue to build risk premium until forecast dries out for several days. Think the wet weather will have to persist few more weeks to make funds get out of the short positions. Or a trade deal.
Quotes, news, weather & polling services by Telvent/DTN.  Market data delayed at least 10 minutes.  Futures quotes source: ICE, MGEX & CME Group.