DTN Grain Close: Futures Race to New Highs; China Buys US New-Crop Corn

©Debra L Ferguson Stock Photography

Old- and new-crop corn and soybean futures rose sharply in Thursday overnight trade and again Friday, setting new contract highs and led by November beans. World veg oils — including palm oil, canola and bean oil — all set new highs. Minneapolis wheat soared to another new high on expanding drought in the Northern Plains, but only finished slightly higher.

GENERAL COMMENTS:

July corn finished up 13 1/2 cents per bushel, July soybeans closed up 20 1/4 cents, July KC wheat is closed up 10 cents, July Chicago wheat settled up 8 1/2 cents and September Minneapolis wheat finished up 3 1/4 cents.

The June U.S. Dollar Index is trading down 0.671 at 90.265. The Dow Jones Industrial Average is up 223.88 points at 34,772.41. June gold is up $16.50 at $1,832.20, July silver is up $0.08 at $27.56 and July copper is up $0.1370 at $4.7395. June crude oil is up $0.19 at $64.90, June heating oil is up $0.0203, June RBOB is up $0.0136 and June natural gas is up $0.030.

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