DTN Grain Close: Soybeans, Wheat Surge Higher, Facing Dry Forecast

Soybean field. Photo: Clemson University

Not only did new-crop contracts of soybeans and all three U.S. wheats close higher Friday, they also closed higher on the week. The largest weekly gain of $1.03 a bushel went to September Minneapolis wheat with hot and dry conditions expected to continue next week in the northwestern U.S. Plains and north of the border as well.

GENERAL COMMENTS:

September corn closed down 8 1/4 cents and December corn was down 4 1/4 cents. August soybeans closed up 7 1/4 cents and November soybeans were up 11 3/4 cents. September KC wheat closed up 11 1/4 cents, September Chicago wheat was up 20 1/2 cents and September Minneapolis wheat was up 28 3/4 cents.

The September U.S. Dollar Index is trading up 0.03 at 92.66. The Dow Jones Industrial Average is down 161.07 points at 34,825.95. August gold is down $15.60 at $1,813.40, September silver is down $0.67 at $25.73 and September copper is down $0.0035. August crude oil is up $0.37 at $72.02, August heating oil is up $0.0038, August RBOB gasoline is up $0.0033 and August natural gas is up $0.062.

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