DTN Closing Grain Comments 11/30 13:47
Grains, Soybeans Extend Slump and Plunge Hard
Corn, wheat, soybeans and bean oil plunged in unison Tuesday as fears from
further economic damage and demand destruction permeate the financials,
energies and ag markets. Led by the formerly bullish wheat markets, the
weakness caught fund managers off guard. Much of the weakness is likely related
to uncertainty about the impact of the new omicron COVID variant.
Senior Market Analyst
December corn closed down 14 cents per bushel and March corn was down 14 3/4
cents. January soybeans closed down 24 1/4 cents and March soybeans were down
25 1/2 cents. March KC wheat closed down 35 cents, March Chicago wheat was down
35 cents and March Minneapolis wheat was down 31 cents. The December U.S.
Dollar Index is trading down 0.278 at 96.060. The Dow Jones Industrial Average
is down 497.82 points at 34,638.12. December gold is down $8.60 at $1,773.70,
December silver is up $0.01 at $22.81 and March copper is down $0.0465 at
$4.2945. January crude oil is down $3.89 at $66.06, January heating oil is down
$0.0877, January RBOB is down $0.0960 and January natural gas is down $0.273.
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