DTN Closing Grain Comments 10/13 13:46
Crop Futures Mixed Monday as US-China Relations Simmer
Corn, soy, and wheat futures trade was two-sided to start the week but
managed to gain a footing after sliding back toward recent lows largely as a
result of a sudden flare up in trade tensions between the U.S. and China after
China announced a series of export restrictions on rare-earth minerals as well
as retaliatory shipping fees against the U.S. For now, things on that front
have cooled over the weekend, with President Trump calling last week's
development "a bad moment" and expressing confidence in the relationship.
Treasury Secretary Scott Bessent reiterated early Monday that negotiations
would move forward as well, at least temporarily easing market fears as stock
indices were able to recover Monday from what was their worst day since April
on Friday. Energy markets also rebounded to start the week, although crude
prices remain within striking distance of calendar-year lows.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
December corn closed down 2 1/4 cents and March corn was down 1 3/4 cents.
November soybeans closed up 1 cents and January soybeans were up 2 cents.
December KC wheat closed down 1 3/4 cents, December Chicago wheat was down 1
3/4 cents, December MIAX Minneapolis wheat was down 1/4 cents.
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