DTN Closing Grain Comments    02/11 13:49
   Soybean Rally Inches Higher, While Wheat Bounces on Technical Buying

   Row-crop trade was quiet at midweek with wheat futures leading the way
higher after successfully holding above trendline support early in the week.
Meanwhile, soybeans recovered from early losses to extend the rally while corn
futures were sluggish despite larger-than-expected cuts to U.S. stocks in
Tuesday's WASDE report, with a seven-year high forecast for reserves still
weighing on price potential. Outside markets leaned mostly positive with firm
energy markets amid lingering geopolitical risks as negotiations continue
between the U.S. and Iran regarding the latter's nuclear program. In other news
for Wednesday, January jobs data was much better than expected, with a cut to
the unemployment rate and a surge in job creation. This in turn pressured
Treasuries and raised yields as the slowing job market through the final few
months of 2025 had been an argument for lowering interest rates.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   March corn closed down 1 1/4 cents and May corn was down 3/4 cent. March
soybeans closed up 1 1/2 cents and May soybeans were up 2 cents. March KC wheat
closed up 8 cents, March Chicago wheat was up 9 cents, March MIAX Minneapolis
wheat was up 2 cents.