DTN Closing Grain Comments 04/29 14:32

DTN Closing Grain Comments 04/29 14:32 Corn Hits New High Then Fades; Wheat Sinks on Rain Chances Friday featured a sharp rise early and new contract high in corn on both active July and new-crop December, before finishing weak. Soybeans were very firm early on the heels of a meal turnaround, which saw July meal bounce off the 50-day moving average three consecutive days but closed unchanged. Wheat markets corrected sharply, as slightly better chances for some rain relief for the Southern Plains sent longs scurrying. Dana Mantini Senior Market Analyst GENERAL COMMENTS: July corn closed unchanged and December corn was down 1/2 cent. July soybeans closed unchanged, and November soybeans were down 6 1/4 cents. July KC wheat closed down 35 1/2 cents, July Chicago wheat was down 30 cents and July Minneapolis wheat was down 23 3/4 cents. The June U.S. Dollar Index is trading down 0.719 at 102.940. The Dow Jones Industrial Average is down 583.47 points at 33,332.92. June gold is up $20.50 at $1,911.80, July silver is down $0.12 at $23.07 and July copper is down $0.0235 at $4.4100. June crude oil is down $0.70 at $104.66, June heating oil is up $0.0047, June RBOB is down $0.0359 and June natural gas is up $0.359.