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DTN Closing Grain Comments 05/23 13:55
July Wheat Closes Higher On Drought, Increased Exports
July wheat led grains higher Thursday, supported by ongoing drought
conditions in hard red winter wheat areas. Low available supplies of old-crop
corn and soybeans continued to pressure prices higher. Trade was especially
volatile in July soybeans, which ignored another drop in Wednesday's cash basis
level, trading up 52 1/2 cents at one point in the session before closing up
just 5 1/4 cents on the day.
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