DTN Closing Grain Comments 08/04 13:43

DTN Closing Grain Comments 08/04 13:43 Soybeans, Meal, KC Wheat Headline Surging Ag Markets Thursday Soybean meal led a decisive rally Thursday, pulling up soybean futures following a $1.00 break in the previous three days. The fact that November beans were unable to back and fill an open chart gap down near $13.49 must be regarded as a positive development. Rumors of China buying U.S. soybeans from the Gulf were floated Thursday. Wheat markets, downtrodden for the last several months and close to the yearly lows, recovered with Kansas City futures taking the lead. The soy strength comes despite China's anger regarding House Speaker Pelosi's visit to Taiwan. Todd Hultman DTN Lead Analyst GENERAL COMMENTS: September corn closed up 10 3/4 cents per bushel and December corn was up 10 cents. August soybeans closed up 57 cents and November soybeans were up 48 cents. September KC wheat closed up 24 3/4 cents, September Chicago wheat was up 18 3/4 cents and September Minneapolis wheat was up 12 1/2 cents. The September U.S. Dollar Index is trading down 0.747 at 105.630. The Dow Jones Industrial Average is down 80.81 points at 32,731.69. December gold is up $33.90 at $1,810.30, September silver is up $0.31 at $20.21 and September copper is up $0.0225 at $3.4895. September crude oil is down $2.09 at $88.57, September heating oil is down $0.0772, September RBOB is down $0.1151 and September natural gas is down $0.137.