DTN Closing Grain Comments 06/22 13:52

DTN Closing Grain Comments 06/22 13:52 Soybeans, Soy Oil Sink Further on Crude Weakness, Recession Fears; Wheat Fades Late Following Tuesday's grain and soy freefall, soybeans and bean oil continued to fall Wednesday, pressured by the collapse in world veg oil markets, the plunge in crude oil and fears of an impending recession. Soy oil closed lower for the ninth consecutive trading day, with palm oil, European rapeseed and Canadian canola markets all down hard. Crude oil down sharply again on the prospect for a moratorium on the U.S. Federal gas tax and fears of a slowing economy. Dana Mantini Senior Market Analyst GENERAL COMMENTS: July corn closed up 7 1/4 cents per bushel and December corn was down 7 3/4 cents. July soybeans closed down 28 1/4 cents and November soybeans were down 34 cents. July KC wheat closed down 2 cents, July Chicago wheat was up 1 1/4 cents and September Minneapolis wheat was down 12 3/4 cents. The September U.S. Dollar Index is trading down 0.316 at 103.895. The Dow Jones Industrial Average is up 165.67 points at 30,695.92. August gold is up $2.70 at $1,841.50, July silver is down $0.31 at $21.46 and July copper is down $0.0935 at $3.9455. August crude oil is down $3.30 at $106.22, August heating oil is up $0.0536, August RBOB is up $0.0338 and July natural gas is up $0.050.