Spring Wheat Higher on Dry Forecast; Soybean Oil Falls Back
July Minneapolis wheat closed up 12 cents, the largest percentage gain in Wednesday’s grain sector with increased concerns about dry weather in the northwestern U.S. Plains. Corn and soybeans were mixed with soybeans pulled lower by a 1.07-cent loss in May soybean oil.
May corn closed up 6 1/4 cents and December corn was up 2 1/4 cents. May soybeans closed down 10 cents and November soybeans were down 1/2 cent. July KC wheat closed up 8 cents, July Chicago wheat was up 3 1/4 cents and July Minneapolis wheat was up 12 cents. The June U.S. Dollar Index is unchanged at 92.35. The Dow Jones Industrial Average is down 18.94 points at 33,411.30. June gold is down $0.50 at $1,742.50, May silver is up $0.07 at $25.30 and May copper is down $0.0555. May crude oil is up $0.43 at $59.76, May heating oil is up $0.0120, May RBOB gasoline is down $0.0159 and May natural gas is up $0.073.