DTN Closing Grain Comments    04/30 13:47
   Wheat, Corn Recover on Wednesday; Soybeans Lower on Month-End Profit-Taking

   In an overall mixed session across ag markets Wednesday, corn and wheat
managed to recover some of the early week losses, with the latter finally
finding some buying interest as KC and Chicago contracts again set new contract
lows early in the session. Soybean futures were under pressure for most of the
day, as weak energy markets induced more profit-taking in soybean oil futures.
Crude oil prices, in particular, are down for the third straight session, with
NYMEX futures working toward the lowest close for the front-month contract in
over four years Wednesday. Equity markets were lower but recovered off daily
lows. Early pressure can be attributed to U.S. GDP through the first quarter of
2025 reporting the first quarterly decline since 2022, driven primarily by a
surge in imports as consumers and businesses attempt to work ahead of planned
tariff policy. Losses were trimmed throughout the session, however, after
Personal Consumption Expenditure data (a Fed policy favorite), indicated
inflation was slightly cooler in March than initially expected.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   July corn closed up 5 1/4 cents and December corn was up 1 3/4 cents. July
soybeans closed down 8 1/4 cents and November soybeans were down 7 cents. July
KC wheat closed down 1 1/2 cents, July Chicago wheat was up 5 1/4 cents, July
Minneapolis wheat was up 4 1/4 cents.