Good afternoon and welcome to Markets Desk, your end-of-session wrap on the stories moving markets today.
Grain markets closed on a mixed but broadly constructive note Thursday. Wheat led the complex higher, with Chicago soft red winter finishing up as much as seven cents and Kansas City hard red winter adding nearly six cents in the nearby contracts. Late-session buying gave the bulls something to work with heading into the weekend.
Corn told a similar story of resilience. December futures dipped as low as four dollars and ninety-five cents intraday, threatening a key psychological level, but buyers stepped in and pushed contracts back to close steady to one and a half cents higher, keeping the five dollar handle intact. The national cash average settled at four sixty-one, up over three cents on the session.
Soybeans were the weak link, closing seven to nine cents lower in the nearbys, though the market did manage to bounce off its worst levels. The national cash bean price fell ten and a half cents to twelve twenty-nine, with soymeal adding to the pressure. Traders will be watching whether that support holds into Friday's session.
That's the tape. Markets Desk, signing off the floor.
