DTN Closing Grain Comments    01/27 13:51
   Corn, Soybean Oil Surge to New Contract Highs; Wheat Reverses

   Following Tuesday's FAS announcement that China had purchased 53.4 mb of
U.S. corn, the largest since August, corn opened higher again Tuesday night and
surged to a new contract high. Another sale of 26.8 mb was announced early
Wednesday, bringing China's 2-day total to over 80 mb. Soybean oil, on the
heels of a palm oil rally of nearly 4% also jumped to a new contract high. Both
markets leaked lower late in the session.