DTN Closing Grain Comments    04/09 14:36
   Corn and Wheat Futures Fall as USDA Increases World Supply Outlook

   Thursday's session was centered around the April release of the World
Agricultural Supply and Demand Estimates (WASDE) report from USDA. The report,
as expected, generally featured few changes and was more or less neutral to
corn and soybeans, but slightly more bearish than had been expected in regard
to wheat. Corn and wheat futures fell despite recovering energy markets on
Thursday as the ceasefire situation in the Middle East remains fragile, and
ship movement through the Strait of Hormuz remains at a crawl. Soybean oil
futures moved higher after gapping lower on Tuesday evening, which in turn
positively influenced soybean futures. Equity markets were higher with the Dow
Jones Industrial Average now having regained roughly half of its wartime losses
posted through March.

Rhett Montgomery
Senior Market Analyst

GENERAL COMMENTS:

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