DTN Closing Grain Comments 11/02 13:42

DTN Closing Grain Comments 11/02 13:42 Wheat Markets Plunge on Russia's Reversal on Ukraine Export Pact; Soybean Oil Soars Again One day after stating that Russia would be suspending their support for the Black Sea Grain Initiative, Vladimir Putin reversed course, sending grain markets tumbling. Russia allegedly received written notice from Ukraine that the export corridor would not be used for military purposes and that was enough to get vessels moving again. Soybeans fell in sympathy with corn and wheat but recovered nicely as soybean oil surged. The Federal Reserve again raised short-term rates by another 75-basis points to the highest level in 15 years. Dana Mantini Senior Market Analyst GENERAL COMMENTS: December corn closed down 10 1/4 cents per bushel and March corn was down 9 3/4 cents. November soybeans closed up 4 1/4 cents and January soybeans were up 6 1/4 cents. December KC wheat closed down 49 3/4 cents, December Chicago wheat was down 56 1/2 cents and December Minneapolis wheat was down 42 cents. The December U.S. Dollar Index is trading down 0.744 at 110.615. The Dow Jones Industrial Average is up 311.83 points at 32,965.03. December gold is up $17.60 at $1,667.30, December silver is up $0.27 at $19.94 and December copper is up $0.0250 at $3.4975. December crude oil is up $1.43 at $89.80, December heating oil is up $0.0570, December RBOB is up $0.0967 and December natural gas is up $0.572.