DTN Closing Grain Comments    03/25 13:59
   Corn, Soybeans Higher at Midweek on Biofuel Optimism

   Soybean futures continued their choppy pattern for the week, regaining
Tuesday's losses (and then some) ahead of the expected EPA biodiesel blending
mandate announcement this week, and gaining steam into the close after it was
reported the White House has officially rescheduled President Trump's visit to
China for mid-May. Corn futures also rose on bullish biofuel news, with the EPA
on Wednesday announcing waivers to allow the sale of E-15 nationwide through
the summer, bolstering ethanol blending demand. Wheat futures were also higher
on Wednesday. In geopolitical news, Iran rejected a 15-point U.S. proposal to
end the war in the Middle East, with the two sides reportedly very far apart on
demands. Crude oil futures fell on Wednesday despite little convincing evidence
thus far that a ceasefire is on the immediate horizon. Still, the notion that
some level of negotiating has taken place was enough to push equities higher at
midweek.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   May corn closed up 4 3/4 cents and July corn was up 5 1/4 cents. May
soybeans closed up 16 3/4 cents and July soybeans were up 16 1/4 cents. May KC
wheat closed up 13 3/4 cents, May Chicago wheat was up 7 3/4 cents, May MIAX
Minneapolis wheat was up 9 1/2 cents.