DTN Closing Grain Comments    06/23 13:47
   Row-Crop Prices Trade Sharply Lower Amid Energy Weakness in Bearish Start to
Week

   Mondays have not been friendly to the grain markets as of late and the start
to this trading week was no exception as bearish traders stepped in to drive
futures lower ahead of the expectation for steady to improved crop ratings from
the USDA Monday afternoon and another week of friendly weather on tap. Adding
to the pressure Monday is a strong reversal seen in crude oil futures after
President Trump posted on social media a call to keep oil prices low, coupled
with growing uncertainty in the duration of the conflict. Despite the U.S. and
Israeli signaling a desire to bring the conflict to a resolution, Iran
countered the U.S. weekend bombing campaign on Monday by firing missiles at
U.S. bases in Qatar and Iraq. For now, any conflict directly away from energy
infrastructure is being seen by traders as reason for risk-off trading in oil
futures.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   July corn closed down 9 1/2 cents and December corn was down 7 1/2 cents.
July soybeans closed down 9 1/4 cents and November soybeans were down 14 cents.
July KC wheat closed down 13 1/4 cents, July Chicago wheat was down 15 cents,
July MIAX Minneapolis wheat was down 12 cents.