DTN Closing Grain Comments    08/10 13:50
   Wheat Retreats From Overnight Highs in Mixed Monday Session

   Sunday evening's open and the overnight trade in wheat futures seemed
initially to finally signal a return to risk building in prices amid the tense
situation in the Black Sea. However, prices fell well off their highs through
the day trade on Monday with traders still displaying uncertainty and caution
regarding the regional logistics issues. Corn and soybean prices were generally
quiet to start the week, remaining supported by major moving averages but still
seeing upside momentum limited ahead of an overall friendly weather outlook for
mid-August as well as USDA input on Wednesday. Outside energy markets are
continuing last week's reversal, with a deal on opening and management of the
Strait of Hormuz is again in limbo with Iran over the weekend releasing a list
of demands to the U.S., which the U.S. is unlikely to agree to.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

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