DTN Closing Grain Comments    02/26 13:53
   Soybeans Climb From Lows After Trump/Xi Summit Concerns Spark Selloff

   May soybean futures posted a 27-cent range Thursday, setting a new high for
the February rally but dropping sharply on algorithmic selling after an article
from the South China Morning Post expressed concern regarding the planning of
the summit between Presidents Trump and Xi at the end of March/beginning of
April. Meanwhile, soybean oil futures continued to climb, which certainly
provided follow-up strength to the soybean market as prices stabilized by the
close. Corn and wheat futures were mixed to slightly higher on little news but
relatively poor export sales for the most recent week. Energy markets were
volatile as negotiations between the U.S. and Iran are underway in Geneva on
Thursday. There has been little news from the meeting, but crude oil futures
bounced from overnight lows to trade higher after it was reported that the U.S.
has placed fighter jets in Israel as military positioning continues in case of
a deterioration in negotiations. Equity markets were lower on continued AI
bubble concerns, with funds flowing into Treasuries which were firm for
Thursday.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   May corn closed up 1 1/2 cents and July corn was up 1 cent. May soybeans
closed down 1 1/2 cents and July soybeans were down 1 1/4 cents. May KC wheat
closed down 2 cents, May Chicago wheat was up 4 3/4 cents, May MIAX Minneapolis
wheat was up 1 3/4 cents.