DTN Closing Grain Comments 05/14 13:51
Soybean Oil Prices Retreat, Lead Crop Prices Lower Tuesday
After Tuesday morning's news revealed used cooking oil was not on the White
House list of Chinese goods charged higher tariffs, July soybean oil finished
down 1.75 cents, the largest percentage loss among crop-related prices that
were broadly lower Tuesday. After closing at their highest prices in 2024 on
Monday, July contracts of KC and Chicago wheat both posted double-digit losses
Tuesday.
Todd Hultman
DTN Lead Analyst
GENERAL COMMENTS:
July corn closed down 5 cents and December corn was down 2 cents. July
soybeans closed down 5 cents and November soybeans were down 7 1/4 cents. July
KC wheat closed down 16 3/4 cents, July Chicago wheat was down 14 1/2 cents and
July Minneapolis wheat was down 5 cents.
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