DTN Closing Grain Comments    06/24 13:47
   Commodity Selloff Continues Tuesday as Traders See Less Risk

   Row-crop prices moved steadily lower again Tuesday with traders ignoring
bullish silver linings and instead opting to trade in accordance with wider
macroeconomic market features which are swiftly expressing a less risky
situation in the Middle East following the U.S. brokered ceasefire announced on
Monday, although both Israel and Iran have since accused the other of violating
the agreement and the situation remains evolving. For now, Nymex crude oil
futures have plummeted, trading lower now than prior to the first Israel strike
against Iran on June 12. A friendly U.S. weather outlook maintains a constant
sense of pressure on U.S. crop markets as well, despite a mixed Crop Progress
report from USDA on Monday.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   July corn closed down 3 cents and December corn was down 4 3/4 cents. July
soybeans closed down 12 cents and November soybeans were down 9 3/4 cents. July
KC wheat closed down 15 1/4 cents, July Chicago wheat was down 17 cents, July
MIAX Minneapolis wheat was down 1 3/4 cents.