DTN Closing Grain Comments 03/08 14:01

DTN Closing Grain Comments 03/08 14:01 Wheat Market Round-Tripper: Chicago May Trades in a $2 Range After Chicago May wheat had traded up six limits in a row, wheat finally resumed trading, first setting a new all-time high and then briefly falling to the expanded limit down but giving trapped shorts a chance to exit. As export demand continued to ramp up for U.S. beans and meal and bean oil rallied as crude oil jumped, the soy complex ended with solid gains. Corn was no doubt pressured by rains in South America favoring the safrinha crop and wheat weakness before recovering to close higher. Dana Mantini Senior Market Analyst GENERAL COMMENTS: May corn closed up 2 1/4 cents per bushel and December corn was up 1 cent. May soybeans closed up 30 1/4 cents and November soybeans were up 20 1/4 cents. July KC wheat closed down 52 cents, July Chicago wheat was down 57 1/4 cents and May Minneapolis wheat was down 58 1/2 cents. The March U.S. Dollar Index is trading down 0.235 at 99.060. The Dow Jones Industrial Average is up 138.77 points at 32,956.15. April gold is up $46.00 at $2,041.90, May silver is up $0.99 at $26.71 and May copper is up $0.0080 at $4.7390. April crude oil is up $4.28 at $123.68, April heating oil is up $0.5160, April RBOB is up $0.1146 and April natural gas is down $0.286.