OMAHA (DTN) -- As we near the close, July corn is up 6 cents, July soybeans are up 6 cents, and July K.C. wheat is up 15 1/4 cents. Grains continue to look firm and winter wheat contracts are showing the largest percentage gains along with an extended forecast that still looks dry for the western side of the southwestern Plains. Outside of grains, other commodities are mixed, but the June U.S. dollar index is up 0.43 at its highest prices in over three months.
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Posted 11:52 -- July corn is up 6 cents, July soybeans are up 8 1/4 cents and July K.C. wheat is up 12 1/2 cents. Grains continue to push higher Wednesday and one possible reason is a growing recognition of dry conditions in Brazil that DTN has been reporting for the last several days. Wednesday's five-day forecast remains dry for Brazil's second corn crop just as pollination is getting ready to occur. Winter wheat prices are extending this week's gains with more dry weather in the forecast following Wednesday's rain in the southwestern Plains.
Posted 09:46 -- July corn is up 4 3/4 cents, July soybeans are up 9 1/4 cents and July K.C. wheat is up 8 3/4 cents. July soybean meal is up $6.80 with early commercial buying in meal also pushing soybean prices higher since 8:30. The U.S. Department of Energy said ethanol production dropped from 1.009 million to 985,000 barrels per day last week, the lowest since October. Ethanol inventory increased from 21.3 to 21.7 million barrels. Corn is trading higher in spite of Wednesday's slightly bearish ethanol numbers.
Posted 08:36 -- After the 8:30 open, July corn is up 2 1/2 cents, July soybeans are up 3 1/2 cents, and July K.C. wheat is up 4 3/4 cents. Grains are starting modestly higher Wednesday, not showing any concern about light to moderate showers from Nebraska to northern Texas or a rising trend of interest rates that is pushing the June U.S. dollar index to its highest prices in over three months. Meanwhile, most other commodities are starting lower Wednesday.Livestock
Posted 09:54 -- Light to moderate pressure is seen through lean hog futures with losses of 10-to-50 cents per cwt developing in the first hour of trade. There is growing weakness that may continue to be seen across the complex. This may add some volatility in the coming hours. Cattle markets are sluggish in very limited activity with nearby gains offset by pressure developing in deferred contracts. Little fundamental direction is seen early Wednesday, which could leave markets sluggish over the near future.
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