Grains

OMAHA (DTN) — May corn is up 8 cents per bushel, May soybeans are up 10 3/4 cents, July KC wheat is up 4 3/4 cents, May Chicago wheat is up 4 1/2 cents and MIAX July Minneapolis wheat is up 2 1/4 cents. The Dow Jones Industrial Average is down 142.00 points. The U.S. Dollar Index is down 0.020 and May crude oil is up $0.80 per barrel. June gold is down $33.10 per ounce. Heading into the Wednesday close, all of the grain and soy markets are trading higher with corn, soybeans and especially bean oil extending gains. The March NOPA report had March crush at just 226.1 mb — below the 230 mb expected, but bean oil stocks fell by 41 million pounds and were expected to be sharply higher. Funds have added to corn, soy and bean oil longs today. A drier pattern is evolving in Brazil’s safrinha corn areas of Goias and Parana, which is leading to corn strength.