DTN Closing Grain Comments    07/13 13:52
   Corn, Soybeans Start Firm, Struggle Against Chart Resistance Monday

   Corn and soybean markets held modest gains to begin the new week, even as
both struggled to sustain early highs, with soybeans specifically hitting chart
resistance in the $12.00 range. Wheat futures turned lower on the overnight
trade after a strong start, seemingly on profit-taking as traders weigh new
logistical risks facing Russian wheat exports in the Black Sea combined with
lower year-over-year production expected worldwide. An overarching sense of
weather bullishness is also present in the row-crop complex to begin the new
week, with a hot and dry forecast ahead for the next 7-10 days, particularly in
the northern half of the U.S. Outside energy markets also leaned bullish to
begin the new week, with President Trump announcing the U.S. will be
reimplementing its blockade of the Strait of Hormuz.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   September corn closed up 1 1/2 cents and December corn was up 2 1/4 cents.
August soybeans closed up 5 cents and November soybeans were up 4 cents.
September KC wheat closed down 10 cents, September Chicago wheat was down 5
cents, September MIAX Minneapolis wheat was up 3/4 cents.