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DTN Closing Grain Comments 10/29 13:53
Wheat Narrowly Manages Higher Close as Sellers Remain Active
Upside momentum in row crop futures was once again severely limited on
Thursday as corn and soy prices attempted a late-morning rally from early lows
before losing steam over the final hour or so of trade. For now, buyers remain
sidelined with no one willing to step in front of sliding prices for the risk
of being caught on the wrong side of continued noncommercial liquidation.
Meanwhile, Kansas City wheat futures managed to finally snap a streak of 10
straight lower sessions. In macroeconomic news for Thursday, U.S. GDP grew at
3.4% in the third quarter of 2026, beating expectations and up from 2.2% in the
second quarter. Meanwhile, the Personal Consumption Expenditure report showed
an annualized inflation rate of 3.6%, up from 3.4% in August.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
December corn closed down a 1/2 cent and March corn was down a 1/4 cent.
January soybeans closed down 3 1/4 cents and March soybeans were down 2 1/2
cents. December KC wheat closed up 2 1/4 cents, December Chicago wheat was up 4
3/4 cents, December MIAX Minneapolis wheat was up 4 3/4 cents.
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