DTN Closing Grain Comments    08/17 13:55
   Corn and Soybeans Move Higher Monday Amid Yield Uncertainty

   Heavy rainfall was observed across the eastern U.S. grain belt last week,
normally a welcome event ahead of filling for corn and soybean crops, but this
year giving rise to flooding and quality concerns. For now, traders appear to
be pricing in increased chances to see further reductions to yield forecasts in
future USDA reports, which will in turn offset the bearish increase to acreage
noted in last week's USDA update. Meanwhile, despite no sign of deescalation in
the Black Sea conflict, wheat futures struggled to build further momentum after
a bullish close to last week's trade. Seasonal pressure may continue to weigh
against prices in the short-term, though bullish arguments are beginning to
outweigh bearish counterpoints just a head of the typical seasonal low for row
crops ahead of the U.S. harvest.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   September corn closed up 6 cents and December corn was up 6 1/4 cents.
September soybeans closed up 23 1/4 cents and November soybeans were up 23 1/2
cents. September KC wheat closed up 4 1/2 cents, September Chicago wheat was
unchanged, September MIAX Minneapolis wheat was down 3 1/4 cents.