DTN Closing Grain Comments 12/08 13:50

DTN Closing Grain Comments 12/08 13:50 Soybeans, Soy Meal Explode Again on New Sales, Argentine Weather Woes Soybean meal took a brief pause in the bull move before recovering to finish sharply higher for the seventh consecutive day, setting another new contract high in the process. That dragged soybean futures up to the highest level since September, along with a new combined soy sale of 30.7 mb to China and unknown. Corn was along for only a bit of the ride, despite expectations for Friday's WASDE to show increased ending stocks. Wheat finished mixed in two-sided trade. Dana Mantini Senior Market Analyst GENERAL COMMENTS: March corn closed up 1 1/4 cents and July corn was up 1 cents. January soybeans closed up 14 1/4 cents and July soybeans were up 9 3/4 cents. March KC wheat closed down 4 cents, March Chicago wheat was down 3 1/4 cents and March Minneapolis wheat was up 9 1/2 cents. The December U.S. Dollar Index is trading down 0.27 at 104.79. The Dow Jones Industrial Average is up 117.54 points at 33,715.46. December gold is up $3.00 at $1,801.0, December silver is up $0.32 at $23.25 and December copper is up $0.0230. December crude oil is down $0.46 at $71.55, December ultra-low sulfur diesel is up $0.0995, December RBOB gasoline is down $0.0229 and December natural gas is up $0.248.