DTN Grain Close: Soybeans Surge to 7-Month High

    Following early week gains which amounted to over 50 cents per bushel for both Chicago and Kansas City wheat, all three wheat markets corrected on Wednesday. Corn futures hovered close to unchanged early but closed with solid gains. The entire soy complex rose sharply, with spot soybeans reaching the highest level since June 7 and bean oil nearing the recent high.

    GENERAL COMMENTS:

    March corn closed up 7 cents per bushel and December corn was up 3 cents. March soybeans closed up 32 3/4 cents and November soybeans were up 15 1/2 cents. March KC wheat closed down 18 3/4 cents, March Chicago wheat was down 23 cents and March Minneapolis wheat was down 31 cents.

    The March U.S. Dollar Index is trading up 0.142 at 96.070. The Dow Jones Industrial Average is up 336.37 points at 34,634.10. February gold is down $21.70 at $1,830.80, March silver is down $0.01 at $23.89 and March copper is up $0.0650 at $4.5150. March crude oil is up $1.77 at $87.37, March heating oil is up $0.0629, March RBOB is up $0.0598 and March natural gas is up $0.151.

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