Corn, wheat and the soy complex soared to new recent highs Wednesday. Bullish news regarding ethanol production and crude oil inventory, plus rumors of wheat business, set the stage for the bullish close. Minneapolis December wheat futures are on a path toward $10 and came close on Wednesday. U.S. and world corn and beans are the cheapest and wheat stocks are moving in a bullish direction.
December corn closed up 9 cents per bushel and March corn was up 8 3/4 cents. November soybeans closed up 17 1/2 cents and January soybeans were up 18 cents. December KC wheat closed up 11 1/2 cents, December Chicago wheat was up 13 1/4 cents and December Minneapolis wheat was up 14 3/4 cents.
The December U.S. Dollar Index is trading down 0.183 at 93.545. The Dow Jones Industrial Average is up 155.38 points at 35,612.69. December gold is up $15.80 at $1,786.30, December silver is up $0.56 at $24.44 and December copper is up $0.0400 at $4.7430. December crude oil is up $1.00 at $83.44, December heating oil is up $0.0325, December RBOB is up $0.0304 and November natural gas is up $0.084.