DTN Closing Grain Comments    08/03 13:45
   Grains Shake Off Slow Start, Bounce From Chart Support Monday

   Early weakness in grain futures on Monday was inspired by a similar risk-off
trade in energy, as seen a week ago, with the U.S. postponing another round of
attacks against Iran, which has again inspired optimism that negotiations will
resume. Also pressuring futures early was decent rainfall noted across the U.S.
grain belt over the weekend. However, there remain areas of concern
(specifically in the western corn belt) heading into August. Despite the slow
start, however, row crops bounced for modest gains after testing and holding
moving average chart support. In outside markets, renewed peace hopes in the
Middle East bolstered equities, while treasuries were firm following last
week's fall to 19-month lows and subsequent high yields for the ten-year note.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   September corn closed up 8 1/2 cents and December corn was up 8 1/2 cents.
September soybeans closed up 3 cents and November soybeans were up 4 3/4 cents.
September KC wheat closed up 9 3/4 cents, September Chicago wheat was up 11 3/4
cents, September MIAX Minneapolis wheat was up 5 1/4 cents.