DTN Closing Grain Comments 09/13 13:53

DTN Closing Grain Comments 09/13 13:53 More Bad Inflation News, Hedge Selling Tame Corn and Soybean Rallies Corn and soybeans began Tuesday morning extending sharp Monday gains following the bullish September WASDE report. However, the Consumer Price Index (CPI) was then released, showing inflation at a higher than expected 8.3% still, sending the U.S. dollar higher and crude oil and equities lower, weakening both markets. South American farmers were also said to be good cash sellers. Wheat was able to hang on to early gains in all three markets but fell late under the weight of the sharply higher U.S. dollar, settling with minor gains. Dana Mantini Senior Market Analyst GENERAL COMMENTS: September corn closed down 3 1/4 cents per bushel and December corn was down 3 1/4 cents. September soybeans closed down 15 1/2 cents and November soybeans were down 9 1/2 cents. December KC wheat closed up 6 3/4 cents, December Chicago wheat was up 1 3/4 cents and December Minneapolis wheat was up 3 3/4 cents. The September U.S. Dollar Index is trading up 1.379 at 109.695. The Dow Jones Industrial Average is down 968.60 points at 31,412.74. December gold is down $25.10 at $1,715.50, December silver is down $0.42 at $19.45 and December copper is down $0.0710 at $3.5395. October crude oil is down $0.69 at $87.09, October heating oil is down $0.0593, October RBOB is up $0.0316 and October natural gas is up $0.012.