DTN Closing Grain Comments    05/08 13:48
   Soybeans Hold Support While Grain Selloff Continues Thursday

   Traders kept their fingers on the sell button for corn and wheat Thursday,
driving prices further into multi-month lows for corn, and multi-year lows for
wheat prices. Soybean futures were able to find some strength, trading higher
on optimism regarding international trade and this weekend's upcoming meeting
between the U.S. and China. The big news for Thursday was the announcement of a
trade agreement between the U.S. and United Kingdom, of which many finer
details are unknown but the early terms appear to be a win for U.S.
agricultural interests, with Commerce Secretary Lutnick singling out ethanol
and beef exports as examples of U.S. commodities which will enjoy larger market
access as a result of the agreement. The agreement comes as the first following
the April 2 tariff rollout and subsequent 90-day pause and certainly worked to
further ease investors' minds as stocks pressed higher following the news, with
the Dow Jones Industrial Average working towards a seventh higher session over
the past ten days.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

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