DTN Closing Grain Comments    07/09 13:53
   Soybeans Drop Thursday on Uninspiring Export Sales; Wheat Firm

   Corn and soybean markets headed lower Thursday with traders seemingly
unimpressed by the soybean export sales reported in the week ended July 2, and
ahead of Friday's WASDE reports, which may temporarily show increased soybean
supplies incoming for fall 2026. Corn futures were caught between bearish
influence from profit-taking in European futures (down for a third straight
session) and higher wheat markets as well as a two-week forecast for the U.S.
Corn Belt calling for above-average temperatures and sporadic rainfall. Wheat
futures were supported Thursday in anticipation of bullish fundamental changes
in Friday's WASDE report, both domestically and internationally. In outside
markets, energy markets were lower Thursday despite the situation in the Middle
East remaining at its most tense point in weeks.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   September corn closed down 3 1/2 cents and December corn was down 4 1/4
cents. August soybeans closed down 15 1/2 cents and November soybeans were down
10 3/4 cents. September KC wheat closed up 9 cents, September Chicago wheat was
up 12 cents, September MIAX Minneapolis wheat was up 8 1/4 cents.