DTN Grain Close: Wheat Markets Get Solid Boost From Falling EU, Canadian Production

Wheat futures, under heavy selling pressure in the past few weeks, rebounded on Tuesday, buoyed by falling crop estimates from Stats Canada and the French farm ministry. Corn, soybeans and bean oil had some early tailwinds from rising energy prices and inflationary concerns, but beans faded late on weaker meal futures.

GENERAL COMMENTS:

September corn closed up 6 1/4 cents per bushel and December corn was up 7 cents. September soybeans closed up 4 cents and November soybeans were down 2 1/4 cents. December KC wheat closed up 15 1/2 cents, December Chicago wheat was up 13 3/4 cents and December Minneapolis wheat was up 10 cents.

The December U.S. Dollar Index is trading down 0.125 at 92.525. The Dow Jones Industrial Average is down 277.44 points at 34,592.19. December gold is up $13.40 at $1,807.80, December silver is up $0.16 at $23.96 and December copper is down $0.0510 at $4.3160. October crude oil is down $0.12 at $70.33, October heating oil is up $0.0015, October RBOB is up $0.0111 and October natural gas is up $0.042.

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