DTN Closing Grain Comments 10/27 13:46
Soybeans Soar as US-China Trade Deal Reportedly Near
There was no question late Sunday through Monday as to what was driving
row-crop futures higher after positive comments from U.S. trade representatives
following a weekend of negotiations with their Chinese counterparts in Malaysia
sent the soybean market skyrocketing toward 2025 highs, pulling along corn and
wheat futures for the ride. Meanwhile, outside markets were positive on the
trade news as well, with higher energies and higher equities offering a
foundation of support to futures.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
December corn closed up 5 1/2 cents and March corn was up 7 1/4 cents.
November soybeans closed up 25 1/2 cents and January soybeans were up 24 3/4
cents. December KC wheat closed up 12 3/4 cents, December Chicago wheat was up
13 1/2 cents, December MIAX Minneapolis wheat was up 3 1/4 cents.
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