CBOT Closing Comments
Corn
Nearby corn futures finished down, after weakness was extended from the overnight session. Selling pressure from a rallying dollar provided the price disadvantage to US corn in the global marketplace. A last minute rally in January crude oil, which today is its last trading day, couldn?t help corn futures end in positive territory. March Corn closed at $3.80 3/4 , down 8 3/4 cents.
Soybeans
January soybean complex futures closed mixed this trading day. While soybeans and soy oil closed down for the day in the pit and computer, soy meal closed higher. The strong rally of the US Dollar Index and weakened corn futures provided the selling pressure to the declining soybean future values.January Soybean finished at $8.68 1/4 , down 1 1/4 cents; Jan Soy meal finished at $267.50, up $1.20; Jan Soy oil finished at $30.60, down 10 points.
Wheat
Today was the last day for the open outcry AKA pit trading for wheat at the Minneapolis Grain Exchange after a 125 year run. They are going full electronic. This sad news didn't conjure enough sympathy from traders to help CBOT, KCBT and MGEX nearby wheat futures to end up for the day. Even weather conditions threatening winterkill weren?t enough to provide bullish trading for wheat futures. Spillover selling from its grain brethren and a strong rally of the US dollar Index provided the selling pressure.CBOT March Wheat closed at $5.63 1/4 , down 8 1/4 cents; KCBT March Wheat closed at $5.83, down 7 1/2 cents; MGEX March Wheat closed at $6.25 1/4 , down 5 3/4 cents.
Nearby corn futures finished down, after weakness was extended from the overnight session. Selling pressure from a rallying dollar provided the price disadvantage to US corn in the global marketplace. A last minute rally in January crude oil, which today is its last trading day, couldn?t help corn futures end in positive territory. March Corn closed at $3.80 3/4 , down 8 3/4 cents.
Soybeans
January soybean complex futures closed mixed this trading day. While soybeans and soy oil closed down for the day in the pit and computer, soy meal closed higher. The strong rally of the US Dollar Index and weakened corn futures provided the selling pressure to the declining soybean future values.January Soybean finished at $8.68 1/4 , down 1 1/4 cents; Jan Soy meal finished at $267.50, up $1.20; Jan Soy oil finished at $30.60, down 10 points.
Wheat
Today was the last day for the open outcry AKA pit trading for wheat at the Minneapolis Grain Exchange after a 125 year run. They are going full electronic. This sad news didn't conjure enough sympathy from traders to help CBOT, KCBT and MGEX nearby wheat futures to end up for the day. Even weather conditions threatening winterkill weren?t enough to provide bullish trading for wheat futures. Spillover selling from its grain brethren and a strong rally of the US dollar Index provided the selling pressure.CBOT March Wheat closed at $5.63 1/4 , down 8 1/4 cents; KCBT March Wheat closed at $5.83, down 7 1/2 cents; MGEX March Wheat closed at $6.25 1/4 , down 5 3/4 cents.
