DTN Closing Grain Comments    09/25 13:47
   Row Crops Shake Off Early Weakness With Trade Details To Come Monday

   On Friday, grain and oilseed futures plunged early to double digit losses
before rapidly regaining lost ground after reports surfaced that the White
House would release a typical fact sheet following this week's meetings between
U.S. President Trump and China's President Xi.
Early trade was very clearly an algorithmically driven overreaction to meetings
that appear unlikely to offer any fresh news for markets, bullish or bearish.
Meanwhile, plenty of bullish fundamental arguments remain intact for row crops
heading into the weekend with the first and foremost being a wet start to U.S.
harvest.
In geopolitical news, the U.S. has made a push this week to organize a
trilateral meeting including Russia and Ukraine but few further details have
been announced regarding Russia's willingness to negotiate. Wheat futures fell
by almost 25 cents at one point early Friday but recovered the vast majority of
that by the close.
Energy futures were lower to close the week on further reports that Iran has
offered to reopen the Strait of Hormuz as well as nuclear negotiations with the
U.S. pending its terms being met. The latter being the important detail, with
the U.S. and Iran thus far both unwilling to bend on their conditions for
ending the war.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   December corn closed up 3/4 cents and March corn was up 1/2 cents. November
soybeans closed up 1 1/2 cents and January soybeans were up 1/2 cents. December
KC wheat closed down 5 cents, December Chicago wheat was down 3 3/4 cents,
December MIAX Minneapolis wheat was down 6 3/4 cents.