DTN Closing Grain Comments 02/06 14:00

DTN Closing Grain Comments 02/06 14:00 Wheat Markets Push Higher Thursday; Corn, Soy Markets Quiet Grain markets took a breather for the most part on Thursday with the exception of wheat futures which were able to push higher without the negative influence from the soybean complex that held that market in check Wednesday. Overall, it feels like traders are awaiting end-of-week updates from South American agencies on how crops in Argentina have fared over the past week, as well as how harvest/planting is progressing in central Brazil. Outside market influence on Thursday leaned negative with equity markets lower and the U.S. Dollar Index catching itself for at least the moment to snap a two-day weaker stretch. It is also worth noting that the Brazilian real since setting all-time lows in December has posted an impressive turnaround following government intervention there. This has most definitely aided soybeans in their price rally over the past month as well. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed up 2 cents and May corn was up 2 3/4 cents. March soybeans closed up 3 1/2 cents and May soybeans were up 3 1/2 cents. March KC wheat closed up 15 3/4 cents, March Chicago wheat was up 15 1/2 cents, March Minneapolis wheat was up 10 cents.