DTN Closing Grain Comments    04/01 13:48
   Wheat Turns Lower, Soybeans Mount Comeback as Uncertainty in Middle East
Rises

   Row crops were lower to begin the month of April, led by wheat futures which
traded sharply lower in a general risk-off trade with rainfall in the near-term
forecast for the Midwest U.S. Otherwise, row-crop futures unwound some
war-related premium to begin the month, even as signals remain extremely murky
as to if a resolution to the conflict in the Middle East is near, with
President Trump on Wednesday morning asserting Iran is seeking a peace
agreement, while Iran officially dismissed this and reaffirmed their control of
the Strait of Hormuz. President Trump is set to address the nation Wednesday
evening regarding the ongoing war. Energy markets climbed from daily lows to
remain over $100 per barrel on both WTI and Brent futures, in a display of
lingering concern over trade via the Persian Gulf. Equities have turned sharply
higher through the week thus far on optimism that the conflict may be winding
down.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   May corn closed down 3 1/2 cents and July corn was down 3 1/4 cents. May
soybeans closed down 2 1/2 cents and July soybeans were down 1 1/2 cents. May
KC wheat closed down 21 3/4 cents, May Chicago wheat was down 18 3/4 cents, May
MIAX Minneapolis wheat was down 16 1/2 cents.