DTN Closing Grain Comments    06/18 13:48
   Crop Prices Turn Lower Ahead of Long Weekend

   Corn, soybeans, and wheat futures turned lower Thursday with traders
displaying caution ahead of a long weekend as markets are closed Friday in
observance of Juneteenth. The U.S. and Iran are set to sign the interim peace
agreement on Friday as well with the anticipated reopening of the Strait of
Hormuz pressuring crude oil futures to three and half month lows. The turn
lower for soybean futures was a bit puzzling considering USDA announced 20.8
million bushels (mb) of flash sales to China and unknown buyers over the past
two days. Weather for the most part continues to cast a bearish shadow over
row-crop futures with plenty of rainfall still in the forecast for the balance
of June and drought reductions noted for both corn and soybean areas in the U.S.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   July corn closed down 3 1/2 cents and December corn was down 4 3/4 cents.
July soybeans closed down 9 1/4 cents and November soybeans were down 6 1/2
cents. July KC wheat closed down 8 1/2 cents, July Chicago wheat was down 7
cents, July MIAX Minneapolis wheat was down 2 1/2 cents.