DTN Closing Grain Comments    08/05 13:52
   Wet Forecast, Big Yield Thoughts Pressure Row-Crop Futures

   It is again the time of year where fall yield estimates begin to make
headlines, with StoneX offering up their survey results Wednesday morning and
fitting into the overall theme of easing concern for 2026 U.S. production after
a brief weather scare in mid-July. The forecast to mid-August features rainfall
across much of the U.S. Grain Belt, though some areas look to miss out notably
in the Northern Plains where conditions have steeply declined in recent weeks.
Outside energy futures continued to be a bearish influence on row crops, with
crude oil futures down for the third straight session on reports that the U.S.,
Iran and Oman are nearing an agreement for the reopening and management of the
Strait of Hormuz. Wheat futures broke away from a general lower trade in the
crop sector to move higher, with no end in sight to the conflict in the Black
Sea, which has posed considerable issues for grain exports out of the region.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   September corn closed down 5 1/2 cents and December corn was down 5 1/2
cents. September soybeans closed down 2 1/4 cents and November soybeans were
down 3 cents. September KC wheat closed up 6 1/2 cents, September Chicago wheat
was up 3 3/4 cents, September MIAX Minneapolis wheat was down 1 cent.