DTN Closing Grain Comments    04/15 13:45
   Corn, Soy Futures Show Life After Prices Test Chart Support

   Soybean and corn futures moved higher at midweek, recovering from selling
pressure to begin the week, with both markets dropping below key chart support
in recent session which encouraged bargain buyers on Wednesday. Wheat futures
traded lower for most of the morning before rallying back to post a fourth
straight higher session on the KC board, still supported by falling crop
conditions in the Central and Southern U.S. Plains. News regarding the conflict
in the Middle East was slim on Wednesday, with regional countries pushing the
U.S. and Iran to extend their ceasefire agreement and restart negotiations.
Otherwise, the U.S. blockade of the Strait of Hormuz continues, with the Wall
Street Journal reporting that 15 vessels have transited the Strait since
Monday, compared to 130 per day on average under normal circumstances.

Rhett Montgomery
Senior Market Analyst

GENERAL COMMENTS:

   May corn closed up 8 1/4 cents and July corn was up 8 cents. May soybeans
closed up 9 cents and July soybeans were up 10 1/2 cents. May KC wheat closed
up 2 3/4 cents, May Chicago wheat was up 1 3/4 cents, May MIAX Minneapolis
wheat was up 1 1/2 cents.