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Corn
May corn finished at $3.965 up 8 1/4 cents. A sharply lower dollar was bullish as to was strongly firmer crude oil. Yesterday's announcement from the Fed of another huge amount of money going into attempting to drag the US economy out of its current malaise has some conflicting consequences.
Soybeans
May soybeans closed at $9.405, up 25 ½ cents. As with the other grains crude & the dollar added a lot of support. Weekly export sales were poor however, and traders seemed to be hesitant to get too carried away in the general euphoria. Question marks remain over South American output and forthcoming spring plantings in the US. Chinese demand is seen as waning, or at least switching to South America.
Wheat
May CBOT wheat settled at $5.55 ¼ up 25 ¼ cents with a sharply lower dollar adding support from the start. Weather worries remain and crop losses seem likely on the US Plains. Despite a lower dollar though, the US continues to miss out on export orders to Russia.
May corn finished at $3.965 up 8 1/4 cents. A sharply lower dollar was bullish as to was strongly firmer crude oil. Yesterday's announcement from the Fed of another huge amount of money going into attempting to drag the US economy out of its current malaise has some conflicting consequences.
Soybeans
May soybeans closed at $9.405, up 25 ½ cents. As with the other grains crude & the dollar added a lot of support. Weekly export sales were poor however, and traders seemed to be hesitant to get too carried away in the general euphoria. Question marks remain over South American output and forthcoming spring plantings in the US. Chinese demand is seen as waning, or at least switching to South America.
Wheat
May CBOT wheat settled at $5.55 ¼ up 25 ¼ cents with a sharply lower dollar adding support from the start. Weather worries remain and crop losses seem likely on the US Plains. Despite a lower dollar though, the US continues to miss out on export orders to Russia.