DTN Closing Grain Comments    03/12 13:52
   Flare Up in Soybean Quality Concerns in Brazil Elevates Prices

   The soybean market continued to press higher, setting new calendar highs in
early trade on Thursday before eventually relaxing off highs through the day
trade. Corn futures held to modest gains despite late session pressure while
wheat markets were more mixed in nature. Prices were supported by higher energy
markets with the war in the Middle East raging on and thus far little
indication of an easing to the conflict but held in check by immediate chart
resistance to the upside. The U.S. dollar was firm and again testing topside
resistance among 2026 highs and closing in on six month highs. Equity markets
were sharply lower again as investors are anxious regarding what the sharp rise
in energy prices could mean for the greater world economy through 2026.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   May corn closed up 2 1/4 cents and July corn was up 2 cents. May soybeans
closed up 13 1/4 cents and July soybeans were up 12 3/4 cents. May KC wheat
closed unchanged, 0 cents, May Chicago wheat was up 3 3/4 cents, May MIAX
Minneapolis wheat was down 3 1/2 cents.