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DTN Closing Grain Comments 02/23 14:00
Row Crops Unable to Sustain Morning Spark to Begin Week
After a sluggish open on Sunday evening and overnight session to begin the
new week, row-crop futures caught a bullish spark as the day trade began but
eventually saw bullish momentum fade through the session on a lack of
rally-sustaining news for Monday. Friday's session was overshadowed by the
Supreme Court ruling which struck down President Trump's use of IEEPA in
implementing tariffs. Slow GDP growth in the fourth quarter of 2025 (due to the
government shutdown) as well as sticky inflation received little acknowledgment
until Monday's session, with heavy selling in equities to begin the new week
and a flow of funds to commodities was at least partially responsible for a
recovery from overnight lows before profit-taking again set in. Crude oil
futures were steady to slightly lower ahead of the next round of negotiations
between the U.S. and Iran scheduled for Thursday.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
March corn closed unchanged, and May corn was up 1/2 cents. March soybeans
closed down 3 1/4 cents and May soybeans were down 3 1/2 cents. March KC wheat
closed down 12 1/4 cents, March Chicago wheat was down 4 cents, March MIAX
Minneapolis wheat was down 5 cents.
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