DTN Closing Grain Comments 08/02 13:49

DTN Closing Grain Comments 08/02 13:49 Grain, Soy Markets Fall on Improved Weather, Political Tensions, Global Economic Concerns For the second straight day, grain and soy markets were pummeled early by a host of bearish news items. Although the central and western grain areas are still besieged by hot and dry weather, a better outlook for the eastern corn and soy areas, along with better-than-expected crop conditions, brought sellers back in. Adding to the negative vibe is the recent slide in both crude and veg oil prices, as the trade fears a lengthy global economic contraction. Ukraine's first ship set sail to Lebanon from Odesa, and the potential for more ships to soon move has weighed heavily on wheat and corn. Dana Mantini Senior Market Analyst GENERAL COMMENTS: September corn closed down 15 3/4 cents per bushel and December corn was down 15 1/2 cents. August soybeans closed down 25 cents and November soybeans were down 19 1/2 cents. September KC wheat closed down 24 1/4 cents, September Chicago wheat was down 25 1/2 cents and September Minneapolis wheat was down 25 1/4 cents. The September U.S. Dollar Index is trading up 0.639 at 105.975. The Dow Jones Industrial Average is down 221.21 points at 32,577.19. December gold is down $3.40 at $1,784.30, September silver is down $0.33 at $20.04 and September copper is down $0.0535 at $3.4890. September crude oil is up $0.54 at $94.43, September heating oil is down $0.0598, September RBOB is up $0.0571 and September natural gas is down $0.573.