DTN Closing Grain Comments 12/06 13:57

DTN Closing Grain Comments 12/06 13:57 Soybean Meal Blasts to a New Contract High; Soybeans Soar Following New Sales Soybean meal surged for the fifth straight day and closed higher for the eighth time in the past nine days. Soybeans, on the heels of rising meal futures, and following combined sales of 18.5 million bushels (mb) to China and unknown, also rose to sharp gains. Wheat was once again the dog, unable to hold early strength and again plunging to new recent lows. Corn bounced modestly after filling an open chart gap on Monday, but failed to stay higher. Dana Mantini Senior Market Analyst GENERAL COMMENTS: March corn closed down 3 1/4 cents and July corn was down 3 1/2 cents. January soybeans closed up 17 1/4 cents and July soybeans were up 15 3/4 cents. March KC wheat closed down 11 3/4 cents, March Chicago wheat was down 10 cents and March Minneapolis wheat was down 6 cents. The December U.S. Dollar Index is trading up 0.27 at 105.51. The Dow Jones Industrial Average is down 474.14 points at 33,472.96. December gold is up $1.10 at $1,782.40, December silver is down $0.13 at $22.29 and December copper is up $0.0245. December crude oil is down $2.60 at $74.33, December ultra-low sulfur diesel is down $0.0905, December RBOB gasoline is down $0.0561 and December natural gas is down $0.077.