DTN Closing Grain Comments    06/18 13:48
   Wheat Futures Erupt on Weather Concerns for Western Plains

   It was an overall green day across U.S. row-crop markets for Wednesday, with
strength stemming primarily from wheat markets which surged to the highest
prices seen for July futures since mid-April. Storms rolled through the
Southern Great Plains primarily in Kansas on Tuesday, with more chances for
storms over the next week leading to concerns that U.S. winter wheat harvest
will slip further behind schedule. Corn and soybean markets traded higher as
well, albeit in a much quieter fashion compared to wheat. In macro news for
Wednesday, the Federal Reserve kept interest rates unchanged while still
planning for two cuts later this year, this move was widely anticipated by
traders and investors. Lastly, markets will pause on Thursday in observance of
Juneteenth, with grains reopening Thursday evening at 7 p.m. CDT.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   July corn closed up 2 cents and December corn was up 5 1/4 cents. July
soybeans closed up 3/4 cents and November soybeans were up 1/2 cents. July KC
wheat closed up 23 1/2 cents, July Chicago wheat was up 25 1/4 cents, July MIAX
Minneapolis wheat was up 15 1/2 cents.