Despite some progress being made in getting Gulf export terminals up and running, grain and soybean futures plunged on mostly warm and dry finishing weather ahead. Also pressuring the markets was the sharply higher U.S. dollar and lower equities and crude oil. The corn and soy basis are sliding ahead of harvest.
Dana Mantini Senior Market Analyst
GENERAL COMMENTS:
September corn closed down 12 1/4 cents per bushel and December corn was down 13 1/4 cents. September soybeans closed down 14 1/4 cents and November soybeans were down 15 cents. December KC wheat closed down 5 1/2 cents, December Chicago wheat was down 6 1/2 cents and December Minneapolis wheat was down 5 1/2 cents.
