DTN Closing Grain Comments    04/02 13:52
   Row-Crop Futures Fall From Highs Despite Energy Surge

   Thursday's session featured a very volatile morning for outside markets,
with crude oil futures initially falling sharply from overnight gains before
swiftly reversing course and headed for their strongest close of the war thus
far with WTI futures now over $111 per barrel. President Trump's address on
Wednesday evening left investors unconvinced of a timely resolution to the war
and reopening of trade through the Strait of Hormuz, even as representatives
from 40 nations meet in London on Thursday to discuss reopening the crucial
waterway. Despite firm energy markets, corn and soybean futures fell from early
Thursday highs in what can likely be attributed to week-ending profit-taking.
Wheat futures were mixed on Thursday, also falling from early highs with a
later rally effort also rejected as markets lacked clear price direction amid
another concerning Drought Monitor update from USDA but much-needed rainfall in
the past 24 hours for parts of the Southern Plains. As a reminder, U.S. grain
markets are closed on Friday in observance of Good Friday.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   May corn closed down 2 cents and July corn was down 1 3/4 cents. May
soybeans closed down 5 cents and July soybeans were down 4 1/2 cents. May KC
wheat closed up 2 cents, May Chicago wheat was up 3/4 cents, May MIAX
Minneapolis wheat was up 4 3/4 cents.