DTN Closing Grain Comments    07/24 13:52
   Wheat Falls Hard as Traders Are Cautious Ahead of Potential Weekend News

   Wheat futures dropped sharply to close the week on rumors that Russia and
Ukraine may be exploring options for easing attacks on shipping channels; but
likely more to do with traders not wanting to get caught with hefty length over
the weekend should news shift ahead of Sunday's reopen. Meanwhile, corn and
soybeans remained well supported by the two-week weather outlook which
continues to call for above-average temperatures and minimal rainfall for the
U.S. Grain Belt. Outside energy markets leaned bearish to close the week as
well with traders following the same pre-weekend position squaring playbook,
which is so popular during geopolitical driven price moves. The fall in
energies to close the week influenced softening interest rates (despite a firm
week overall) and subsequent gains in equities to close the week as well.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   September corn closed up 1/4 cents and December corn was unchanged, 0 cents.
August soybeans closed up 10 1/2 cents and November soybeans were up 9 3/4
cents. September KC wheat closed down 14 1/2 cents, September Chicago wheat was
down 18 1/4 cents, September MIAX Minneapolis wheat was down 15 3/4 cents.