Hoffman Ag Services Wednesday, July 24, 2024  
 
 
 
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DTN Closing Grain Comments    07/24 13:47
   Corn Extends Rally for Third Day But Fades Late; Soybeans, Bean Oil Crater

   Although corn and soybean conditions are above average, the forecast ahead
promises some extreme temperatures and scant rain for the Western Corn Belt and
Plains and funds had been covering some of their short. Wheat and soybeans
traded both sides of unchanged before soybeans and bean oil cratered late in
the day, while wheat was mixed. December corn futures finished with a small
gain but gave up much of the early morning strength by the close.

Dana Mantini
Senior Market Analyst

GENERAL COMMENTS:

   December corn closed up 3/4 cent per bushel, November soybeans finished down
11 1/2 cents per bushel. September KC wheat was up 3/4 cent per bushel,
September Chicago wheat closed up 4 1/4 cents per bushel and September
Minneapolis wheat was down 3 3/4 cents.
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