DTN Closing Grain Comments    09/18 13:51
   Friday Profit Taking Pressures Soybeans for Second Straight Week

   Week end profit taking gripped row crop futures on Friday, with the soybean
complex leading the way lower. Soybean meal was hit particularly hard after a
sharp weekly rally to over two-year highs, with traders entering the week
already holding a record position in terms of futures length. Corn and wheat
were also lower, the latter pressured by the latest reports that Turkey is once
again seeking a ceasefire on shipping lanes between Russia and Ukraine, with
all previous efforts failing as attacks continue on a regular basis.
Outside energy markets were also softer, with diesel futures lower for a third
straight session after setting another record earlier in the week. After a one
day reset following the Federal Reserve's quarter point rate hike on Wednesday,
treasury yields were firm again on Friday. Influenced by the recent run up in
yields, the U.S. Dollar Index has been higher in six of the past seven
sessions, reaching the highest level since late July at one point early Friday.


Dana Mantini
Senior Market Analyst

GENERAL COMMENTS:

   December corn closed down 3 cents and March corn was down 3 cents. November
soybeans closed down 16 1/4 cents and January soybeans were down 17 cents.
December KC wheat closed down 10 3/4 cents, December Chicago wheat was down 12
3/4 cents, December MIAX Minneapolis wheat was down 11 1/4 cents.