DTN Closing Grain Comments    03/25 13:57
   Wheat Selloff Pressures Corn as Soybeans Challenge $10 Support

   There was widespread selling across agricultural markets Tuesday, as
livestock and row crop futures were lower, with the exception of vegetable oil
markets. The wheat market since last Tuesday has dropped over 35 cents on May
KC futures despite dry conditions in hard red growing regions, with ongoing
Black Sea peace talks being a source of pressure Tuesday. Corn futures had been
resilient to the weakness in wheat through the past few sessions, but
ultimately were unable to break away from dropping wheat and soybean markets on
Tuesday. For soybeans, the lack of news currently to distract from record
production in South America has traders retesting long-term support near
$10.00. Outside markets Tuesday were mixed, with stock indices quiet following
a strong day on Monday. The U.S. Dollar index also relaxed through the session
Tuesday, but this did little to offer support to faltering ag futures.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   May corn closed down 6 3/4 cents and July corn was down 6 3/4 cents. May
soybeans closed down 5 1/2 cents and July soybeans were down 4 cents. May KC
wheat closed down 8 3/4 cents, May Chicago wheat was down 5 cents, May
Minneapolis wheat was down 3 3/4 cents.