DTN Closing Grain Comments    05/04 13:48
   Soybeans Hit Accelerator Ahead of Trump's Trip to China

   The soybean market was the star of the show to begin the first full trading
week of May, moving over 20 cents higher at times on old-crop futures as
traders price in chances for a productive meeting when President Trump visits
China, now just 10 days away. Corn futures were sluggish to start, caught
between the jump in soybean futures but initially lower wheat prices.
Eventually the bullish influence from the soybean sector was enough to drag
both corn and wheat off morning lows. Regarding the conflict in the Middle
East, the U.S. and Iran were reportedly in contact through the weekend but
remain far apart on the details of any potential deal. Meanwhile, reports of
attacks in the region have reemerged, with the U.A.E. reporting missile and
drone attacks. Crude oil futures have jumped back toward last week's highs on
those reports.

Rhett Montgomery
Senior Market Analyst

GENERAL COMMENTS:

   July corn closed up 5 1/2 cents and December corn was up 5 3/4 cents. July
soybeans closed up 19 1/2 cents and November soybeans were up 14 cents. July KC
wheat closed unchanged, 0 cents, July Chicago wheat was up 3 1/4 cents, July
MIAX Minneapolis wheat was down 4 1/2 cents.