DTN Closing Grain Comments 06/16 13:41

DTN Closing Grain Comments 06/16 13:41 Wheat, Corn and Meal Surge to Big Gains; Bean Oil Lower Again Grain and soy markets, except for soybean oil, surged to strong gains on Thursday, while bean oil was again pulled lower by the faltering palm oil market and product spreading, closing lower for the sixth consecutive day. Once again, the sharply lower equities market, fueled by the largest interest rate increase since 1994, moved opposite of raw commodity markets on recession fears. Dana Mantini Senior Market Analyst GENERAL COMMENTS: July corn closed up 14 1/4 cents per bushel and December corn was up 14 cents. July soybeans closed up 15 3/4 cents and November soybeans were up 19 3/4 cents. July KC wheat closed up 15 1/4 cents, July Chicago wheat was up 28 1/4 cents and September Minneapolis wheat was up 8 3/4 cents. The September U.S. Dollar Index is trading down 1.460 at 103.475. The Dow Jones Industrial Average is down 805.01 points at 29,863.52. August gold is up $31.10 at $1,850.70, July silver is up $0.45 at $21.87 and July copper is down $0.0670 at $4.0965. July crude oil is up $2.21 at $117.52, July heating oil is up $0.0296, July RBOB is up $0.0664 and July natural gas is up $0.018.