DTN Closing Grain Comments    07/15 14:00
   Wheat Charges Back Toward 2026 Highs as Black Sea Risks Mount

   Wheat was the star of the show at midweek with Kansas City futures surging
over 40 cents Wednesday as traders rapidly move to inject risk back into prices
following Russia's closure of the Kerch Strait and reports of increased attacks
against Ukrainian export infrastructure as well. Meanwhile, weather across the
globe still leans bullish to growing grain and oilseed crops in the Northern
Hemisphere. The U.S. heat wave is expected to remain in place through the
upcoming weekend, while the historic heat wave remains across Europe and is
reported to be deteriorating corn conditions there. Outside markets were mixed
on Wednesday, with the U.S. dollar lower and influenced by easing interest
rates following Tuesday's cool CPI reading. Energy markets saw another day of
slightly higher crude oil futures, while diesel futures took a breather after
two very firm sessions to begin the week.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   September corn closed up 9 cents and December corn was up 9 cents. August
soybeans closed up 9 1/2 cents and November soybeans were up 10 3/4 cents.
September KC wheat closed up 42 cents, September Chicago wheat was up 32 1/2
cents, September MIAX Minneapolis wheat was up 25 1/4 cents.