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DTN Closing Grain Comments 03/06 14:08
Grain and Soy Markets Surge as Conflict Advances; Crude Oil Soars; Inflation
Worries Rise
Grain and soy markets added more war premium Friday as the bombing of Iran
military sites continue; but Iran still has not backed down. Crude oil soared
again as the Strait of Hormuz transit of energy and fertilizer supplies
continues to be restricted. Wheat led the markets higher on Friday despite
still overall bearish fundamentals as funds continued to buy.
Dana Mantini
Senior Market Analyst
GENERAL COMMENTS:
May closed up 7 cents per bushel at $4.60 1/2 and July corn was up 8 1/4
cents at $4.71. May soybeans were up 21 1/2 cents at $12.00 3/4 and July
soybeans were up 20 1/2 at $12.13. May KC wheat closed up 31 cents at $6.23
1/2, May Chicago wheat was up 33 cents at $6.16 3/4 and MIAX May Minneapolis
wheat was up 23 1/2 cents at $6.4300.
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