DTN Grain Close: Wheat Markets Surge to New Highs

    Hand full of mature wheat heads. Photo: K-State Research and Extension - Creative Commons

    With no real news impacting the markets, all three wheat markets took off to the upside; both KC and Minneapolis scored new contract highs. Minneapolis December wheat eclipsed $10 for the first time since 2012 as U.S. and world stocks tighten. Soybeans were the weak leg of the grain and soybean complex, with November again challenging the low $12 support area.

    GENERAL COMMENTS:

    December corn closed up 5 3/4 cents per bushel and March corn was up 5 1/4 cents. November soybeans closed down 3 1/2 cents and January soybeans were down 2 3/4 cents. December KC wheat closed up 26 1/4 cents, December Chicago wheat was up 14 3/4 cents and December Minneapolis wheat was up 31 3/4 cents.

    The December U.S. Dollar Index is trading down 0.093 at 93.665. The Dow Jones Industrial Average is up 79.69 points at 35,682.77. December gold is up $12.60 at $1,794.50, December silver is up $0.23 at $24.40 and December copper is down $0.0585 at $4.5000. December crude oil is up $1.17 at $83.67, December heating oil is down $0.0131, December RBOB is down $0.0079 and November natural gas is up $0.168.

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