DTN Closing Grain Comments    09/10 13:54
   Soybeans Jump as Demand Upside Seen Outpacing Supplies

   Soybean futures led row crops in a strong recovery after a sluggish start to
the week, with export demand remaining the driving bullish force behind the
market. Corn and wheat were also moderately higher but in a more subdued trade
compared to soybeans, with traders cautious ahead of Friday's USDA reports
given the wide range in pre-report guesses. Supportive to the commodity complex
was another surge in crude oil prices, with West Texas Intermediate futures
back over $100 per barrel for the first time since mid-May. With this comes a
rapid rise in inflation concerns, with the 10-year treasury yield jumping this
week to three-year highs. Equities are lower amid escalating attacks in the
Persian Gulf while Saudi Arabian exports via the Red Sea have also become an
area of concern with increased Houthis attacks. Thursday morning's Petroleum
Status report showed the U.S. Strategic Petroleum Reserve was drawn down again
to 285.4 million barrels, the lowest since late 1982.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   December corn closed up 6 cents and March corn was up 6 cents. November
soybeans closed up 22 3/4 cents and January soybeans were up 22 cents. December
KC wheat closed up 12 1/2 cents, December Chicago wheat was up 12 1/2 cents,
December MIAX Minneapolis wheat was up 14 1/2 cents.