DTN Closing Grain Comments    01/15 13:46
   Soybeans Rally on Brazil Production Cut, Biofuel Rumors

   Corn and wheat futures traded mixed Thursday, again fading from early highs
as the weight of added supply in both markets continues to serve as a headwind
to rally attempts. Meanwhile, soybean futures enjoyed a double-digit jump on
Thursday following a number of supportive news reports, most notably as
Brazil's National Supply Company (Conab) reduced their forecast for 2025-26
soybean production in a surprising split from USDA's increase in Monday's
WASDE. Outside markets leaned negative, with crude oil staging a sharp reversal
after five straight sessions higher on a perceived and at least temporary
easing of tensions between the U.S. and Iran. Equities were higher after a
two-day profit-taking dip, and the U.S. dollar moved higher for the twelfth
time in the past fifteen sessions.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   March corn closed down 1 3/4 cents and May corn was down 2 cents. March
soybeans closed up 10 1/2 cents and May soybeans were up 9 1/4 cents. March KC
wheat closed down 5 cents, March Chicago wheat was down 2 cents, March MIAX
Minneapolis wheat was down 4 1/2 cents.