DTN Closing Grain Comments    06/29 13:59
   Corn, Soy Down Hard as Traders Unconcerned About Growing Crops

   U.S. row-crop futures fell Monday with double-digit losses for both corn and
soybean markets. Despite a heatwave across the U.S. Corn Belt this week,
traders see adequate rainfall through the first half of July (combined with
soil moisture build up in June) to support the development of the corn crop
into the crucial pollination period. Both corn and soybean markets will face
long-term technical tests as nearby old-crop futures challenge the $4.00 and
$11.00 levels, respectively. Outside markets were quiet to begin the week with
WTI crude oil continuing to hold support above the chart gap left at the onset
of the war in the Middle East in late February, trading higher Monday after a
weekend of renewed conflict between the U.S. and Iran, though both sides agreed
to halt the aggression on Sunday.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   July corn closed down 10 3/4 cents and December corn was down 11 1/2 cents.
August soybeans closed down 17 1/4 cents and November soybeans were down 17 1/4
cents. September KC wheat closed down 4 3/4 cents, September Chicago wheat was
down 10 cents, September MIAX Minneapolis wheat was down 4 1/2 cents.