DTN Closing Grain Comments 08/11 13:50

DTN Closing Grain Comments 08/11 13:50 Wheat, Soy Markets Again Lead the Way Higher; Inverses Widen Soybeans, soy products and wheat led Thursday's sharp gains ahead of Friday's USDA August report. The markets are reflecting tight old-crop supplies and solid demand, with both August soybeans and meal surging to new heights. September soybean oil rose sharply and finished higher for the sixth consecutive day on the heels of the crude oil recovery. The $2.80 per bushel inverse on the soy Aug-Nov spread and the $112 per ton inverse on Aug-Dec meal are illustrative of tightening old-crop stocks of each. Even September-December corn shows an inverse -- unusual for this time of year. Wheat markets appear to be finally turning the corner, with Chicago wheat closing higher for the fourth straight day. Dana Mantini Senior Market Analyst GENERAL COMMENTS: September corn closed up 8 cents per bushel and December corn was up 9 1/4 cents. August soybeans closed up 20 3/4 cents and November soybeans were up 20 3/4 cents. September KC wheat closed up 16 1/2 cents, September Chicago wheat was up 11 cents and September Minneapolis wheat was up 11 cents. The September U.S. Dollar Index is trading down 0.040 at 105.040. The Dow Jones Industrial Average is up 112.22 points at 33,421.73. December gold is down $10.50 at $1,803.20, September silver is down $0.49 at $20.25 and September copper is up $0.0500 at $3.6995. September crude oil is up $2.39 at $94.32, September heating oil is up $0.0713, September RBOB is down $0.0053 and September natural gas is up $0.668.