DTN Closing Grain Comments    07/17 13:52
   Strong Demand Lifts Soybeans Friday, While Wheat Maintains Momentum Into
Weekend

   U.S. wheat futures capped a bullish week with a strong close, sitting
directly below 2026 highs for KC futures while Chicago futures hit a new high
point in over two-years early Thursday. Traders are currently weighing the
long-term risks and uncertainty tied to disrupted grain trade in the Black Sea,
with few reports of improvements to the situation. Corn and soybeans were
supported at the close of the week as well, with demand a bright spot within
the soybean market. The corn market was sluggish through the second half of
this week with next week's forecasts calling for cooler temperatures across the
U.S. Grain Belt. However, it is difficult to say the risk to the corn crop is
over, with a dry outlook still in the cards for the Western Corn Belt over the
next week to ten days. Outside markets on Friday leaned mostly positive
influence on ag futures, with firm energy markets as crude oil traded to its
highest mark in over a month as the war between the U.S. and Iran continues to
escalate.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   September corn closed up 3 1/4 cents and December corn was up 3 1/2 cents.
August soybeans closed up 9 1/2 cents and November soybeans were up 8 cents.
September KC wheat closed up 15 3/4 cents, September Chicago wheat was up 8
cents, September MIAX Minneapolis wheat was up 6 1/2 cents.