DTN Closing Grain Comments 10/18 13:51

DTN Closing Grain Comments 10/18 13:51 Soybeans Crumble on Meal Weakness; Corn, Wheat Extend Sell-Off Grain and soy markets continued to weaken, led by soybeans and meal. A combination of shipping delays caused by low river levels, the rapid pace of harvest, and poor export data has sent all three major ag markets reeling. Wheat and corn finished lower for the third consecutive day, with Chicago December wheat breaking under the 50-day moving average for the first time since early September. Corn weakened on poor exports and the break in crude oil as the Biden administration again contemplated releasing more oil from the emergency reserve to hold down gas prices ahead of the midterm elections. Dana Mantini Senior Market Analyst GENERAL COMMENTS: December corn closed down 2 1/2 cents per bushel and March corn was down 2 3/4 cents. November soybeans closed down 13 1/4 cents and January soybeans were down 10 3/4 cents. December KC wheat closed down 7 1/2 cents, December Chicago wheat was down 11 1/2 cents and December Minneapolis wheat was up 2 1/4 cents. The December U.S. Dollar Index is trading up 0.097 at 112.005. The Dow Jones Industrial Average is up 385.70 points at 30,571.52. December gold is down $7.60 at $1,656.40, December silver is down $0.08 at $18.64 and December copper is down $0.0540 at $3.3615. November crude oil is down $2.66 at $82.80, November heating oil is down $0.1106, November RBOB is down $0.0452 and November natural gas is down $0.221.