DTN Grain Close: Markets Drown in Sea of Red

    ©Debra L Ferguson Stock Images

    While both corn and wheat markets continued to feel bearish fallout from the Wednesday WASDE report, all of the markets sold off, led by soybeans as some drought relief is finally headed to Argentina and southern Brazil. Soybeans, Meal and Kansas City wheat, following the miss on Iraq business, led markets down to sharply lower closes.

    GENERAL COMMENTS:

    March corn closed down 11 1/2 cents per bushel and January soybeans closed down 26 cents. March KC wheat closed down 18 1/4 cents, March Chicago wheat was down 11 cents and March Minneapolis wheat was down 28 3/4 cents.

    The March U.S. Dollar Index is trading down 0.116 at 94.785. The Dow Jones Industrial Average is up 16.71 points at 36,307.03. February gold is down $6.70 at $1,820.60, March silver is down $0.05 at $23.16 and March copper is down $0.0415 at $4.5350. February crude oil is down $0.64 at $82.00, February heating oil is up $0.0110, February RBOB is down $0.0110 and February natural gas is down $0.559.

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