DTN Closing Grain Comments    05/18 13:45
   Traders Get China Trade Details, Send Prices Soaring Into New Week

   The market received extreme relief from last week's sharp selloff with
soybean and corn futures recovering most of the lost territory after the White
House released their fact sheet following last week's summit in Beijing.
According to U.S. officials, China has agreed to purchase $17 billion in U.S.
agricultural products in each of the next three years, with some mention that
number is in addition to the 25 million metric tons (mmt) of soybeans agreed
upon last October in South Korea. In macro news, crude oil futures were higher
for the sixth time in the past seven sessions, almost completing a move back to
late April highs prior to the most recent rumors of a nearing peace agreement
and subsequent risk-off trade. Meanwhile, inflation concerns are once again on
the rise, with the 10-year Treasury yield hitting its highest mark in a year on
Friday.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   July corn closed up 21 1/4 cents and December corn was up 17 cents. July
soybeans closed up 36 cents and November soybeans were up 30 1/4 cents. July KC
wheat closed up 15 3/4 cents, July Chicago wheat was up 28 3/4 cents, July MIAX
Minneapolis wheat was up 18 cents.