DTN Closing Grain Comments    02/06 13:49
   Soybeans Fall From Daily Highs as Profit-Taking Sets in to Close Week

   Soybeans continued their recent bullish burst for much of Friday morning,
before sellers became very active and ultimately erased roughly 25 cents of
value, sending prices well off daily highs. Traders were clearly uncomfortable
carrying recent length into the weekend and saw reason to book some profits.
Moreso, traders may be starting to lose patience and wish to see some export
sales to follow up President Trump's very bullish Wednesday trade comments,
with the daily flash sales page from USDA quiet both Thursday and Friday to
close the week. Meanwhile, selling drove corn and wheat futures lower,
negatively influencing soybeans as well. Traders are preparing for next week's
WASDE report which will very likely reiterate January's findings of multi-year
highs in U.S. grain reserves. Outside markets leaned positive for the most part
on Friday, with the Dow Jones erupting to a 1,000-point-move higher to new
records as well. The U.S. Dollar Index was softer Friday but higher overall
through the week. Energy markets were also firm Friday but that did little to
bolster ag futures through the session.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   March corn closed down 4 3/4 cents and May corn was down 4 1/4 cents. March
soybeans closed up 3 cents and May soybeans were up 2 3/4 cents. March KC wheat
closed down 7 1/4 cents, March Chicago wheat was down 5 1/2 cents, March MIAX
Minneapolis wheat was down 1 1/2 cents.