DTN Closing Grain Comments    02/02 14:10
   Energy Selloff, Firm Dollar Pressure US Crop Markets to Begin February

   U.S. row-crop futures were lower to begin the new week and month with wheat
prices leading the way on a combination of technical pressure as well as
outside market pressure from a firm U.S. dollar and sharply lower energy prices
as U.S. and Iranian officials are set to hold nuclear talks in Turkey this
upcoming Friday in a path of de-escalation of tensions which had driven crude
oil prices to their highest level in four months. Direct fundamental news for
corn, soy, and wheat markets was limited on Monday, but a quick start to
soybean harvesting and safrinha corn planting in Brazil over the latter half of
January is likely at least part of the cause of bearishness in the markets to
begin February.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   March corn closed down 2 1/2 cents and May corn was down 2 1/4 cents. March
soybeans closed down 4 cents and May soybeans were down 4 1/2 cents. March KC
wheat closed down 9 1/2 cents, March Chicago wheat was down 10 1/4 cents, March
MIAX Minneapolis wheat was down 6 3/4 cents.