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Soybeans Close Up 10¢ Tuesday

Wheat is slightly higher.

DES MOINES, Iowa -- On Tuesday, the CME Group’s soybean market closed double-digits higher on some contracts.

At the close, the December corn futures finished 1¼¢ higher at $3.51, and March futures closed 1¼¢ higher at $3.59 per bushel.

January soybean futures finished 9¾¢ higher at $10.30; March soybean futures ended 10¼¢ higher at $10.38¾.

March wheat futures closed ¼¢ higher at $4.27¼.

December soy meal futures settled $5.50 a short ton higher at $327.40. December soy oil futures ended $0.16 lower at 34.77¢ per pound. 

In the outside markets, the Brent crude oil market is $0.18 per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 58 points higher.

Jason Roose, U.S. Commodities grain analyst, says the traders are preparing for a holiday break.

“In this holiday trade week, the grains continue to be dictated by the world currencies, and a close watch on South America weather. Soybeans are giving the grain markets support again with impressive exports and crush numbers; tight producer holding giving the corn short-term support,” Roose says.

The grain markets are closed on Wednesday night, and all day Thanksgiving Day (Thursday, and Thursday night, November 24). The grain and equity markets open at 8:30 a.m. on Friday (November 25) and close early (12:05 p.m.) on Friday.


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