DTN Closing Grain Comments    03/30 13:47
   Soybeans Hold to Fractional Gains Monday; Corn Falls Ahead of USDA Reports
Tuesday

   The soybean complex led row-crop futures gains on Monday in a delayed
bullish reaction to Friday's EPA mandates which came in above last June's
proposal for required volumes. Soybean oil in particular jumped to the highest
close of 2026 thus far on the May contract. Meanwhile, corn futures were lower,
likely on positioning ahead of Tuesday's stocks report which is expected to
show record or near record March 1 inventory in the U.S. Wheat traded mixed on
Monday, with precipitation in the forecast over the next 10 days in the
Southern Plains pressuring Kansas City prices, while Chicago and Minneapolis
varieties were higher. In outside markets, crude oil futures have again moved
sharply higher in recent sessions, trading to new high closing prices through
the war thus far. On Monday, President Trump again threatened military action
against Iranian energy sites if U.S. terms were not agreed to which includes
the prompt reopening of the Strait of Hormuz.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   May corn closed down 6 1/4 cents and July corn was down 6 cents. May
soybeans closed up 1/2 cents and July soybeans were down 1/4 cents. May KC
wheat closed down 6 1/2 cents, May Chicago wheat was up 2 cents, May MIAX
Minneapolis wheat was up 3 3/4 cents.