DTN Closing Grain Comments    02/17 13:47
   Soybeans, Soybean Oil Lone Winners Across Row-Crop Futures Tuesday

   It was a day of mostly lower price action for row-crop futures with soybeans
standing alone on the positive side of the fence. Corn futures were lower and
posted a poor close from a technical standpoint despite relatively little in
the way of news Tuesday. Most of the bearish pressure for corn came via wheat,
with Chicago futures falling sharply just two sessions removed from hitting
three-month highs on upward revisions to forecasts for Russia's 2026 crop.
Outside markets leaned bearish to ag futures on Tuesday, with a firm U.S.
dollar trading counter to continued selling pressure in precious metals. Crude
oil (and other energy futures) was lower as well Tuesday, despite early reports
of Iran's "partial and temporary" closure of the Strait of Hormuz, a crucial
waterway for world oil trade. Risks in this regard were seemingly offset in the
eyes of traders by positive feedback following the latest round of nuclear
negotiations between the U.S. and Iran in Switzerland on Tuesday.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   March corn closed down 5 1/2 cents and May corn was down 6 1/4 cents. March
soybeans closed up 1 cents and May soybeans were up 1/4 cent. March KC wheat
closed down 3 3/4 cents, March Chicago wheat was down 11 cents, March MIAX
Minneapolis wheat was down 3 1/2 cents.