DTN Closing Grain Comments    03/04 14:00
   Row Crops Drift Lower in Uneventful Midweek Trade

   Row-crop futures fell marginally Wednesday, retreating from chart resistance
after hitting fresh highs for their recent moves early this week, with little
fundamental news to influence price direction. Outside markets have settled to
some degree after a volatile start to the week amid the onset of war in the
Middle East and corresponding disruptions to world energy trade. Crude oil
futures, of course, remain elevated but have stalled on attempted moves above
$75 per barrel on NYMEX futures. The U.S. Dollar Index also moved lower for the
first time this week, still among the highest level of 2026 but a touch below
the mid-January high after Tuesday's reversal. Equity markets have recovered
well from early Tuesday lows as investors recover from the initial market shock
through the weekend and turn to monitoring the ongoing situation in the Middle
East.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

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