DTN Closing Grain Comments    04/14 13:46
   Wheat Rally Continues Tuesday as Crop Ratings Fall, Southern Plains Remain
Dry

   Markets in general traded on renewed optimism that peace negotiations will
resume later this week between the U.S. and Iran. Equities moved higher, with
the NASDAQ posting a remarkable tenth consecutive higher session. Meanwhile,
crude oil futures retreated with WTI prices on pace for their lowest close of
April thus far. The energy influence on row crops has weakened through April,
but Tuesday's drop did weigh on soybean oil futures with soybeans eventually
fading from early gains as well. Corn futures were marginally higher (for
old-crop futures) primarily on spillover strength from wheat markets, where
falling condition ratings and a dry outlook for the remainder of April has 2026
production risk back at the forefront of trader concerns.

Rhett Montgomery
Senior Market Analyst

GENERAL COMMENTS:

   May corn closed up 2 3/4 cents and July corn was up 1 1/2 cents. May
soybeans closed down 4 1/4 cents and July soybeans were down 4 3/4 cents. May
KC wheat closed up 19 1/2 cents, May Chicago wheat was up 9 3/4 cents, May MIAX
Minneapolis wheat was up 13 1/2 cents.