DTN Closing Grain Comments 12/09 13:52
Soybeans Surge Again on China Optimism, Veg Oil Strength
Soybeans vaulted higher again Monday and are now more than 30 cents above
the low set last week. Optimistic rhetoric from both sides of the negotiation
table on the U.S.-China trade deal, a larger-than-expected fund soybean short,
and another sharp rise in palm oil to a 3-year high all combined to send
soybeans higher. Wheat was mixed to lower, and corn continues to trade quietly
within the 10-cent range of the past three weeks.
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