DTN Closing Grain Comments    07/16 13:38
   Soybeans Lead Market With Midweek Double-Digit Surge

   It was a decent session marked by corrective price action in corn and
soybean markets as successful stands by bulls near long-term support injected a
shot of confidence to traders to follow-through during Wednesday's day session.
Meanwhile, wheat markets remain subdued in the midst of ongoing harvest
throughout the globe for winter crops. In outside markets, equities had a
roller-coaster session amid confusion over Fed Chair Powell's job security
after it was reported early Wednesday that President Trump was planning to
replace Powell, which the President himself later denied. Investor unease is
leading the U.S. dollar lower Wednesday, snapping a streak of nine higher
sessions for the currency. Energy markets are mostly lower Wednesday as well,
led by diesel and gasoline markets after a mixed weekly Petroleum Status report
showed a weekly drawdown in commercial crude oil stocks but build-ups in diesel
and gasoline.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   September corn closed up 4 cents and December corn was up 4 1/4 cents.
August soybeans closed up 18 1/2 cents and November soybeans were up 18 3/4
cents. September KC wheat closed down 1 cent, September Chicago wheat was up 3
1/4 cents, September MIAX Minneapolis wheat was down 1 3/4 cents.