DTN Closing Grain Comments    05/12 14:40
   Bullish New Crop Estimates Send Soybeans Soaring to Begin Week

   It was an active session for news across the ag sector on Monday, as the
week was kicked off with an update on the weekend's trade negotiations between
the U.S. and China. These were reported to have been very constructive and
resulted in a temporary deal to significantly lower existing tariffs between
the two nations, with U.S. tariffs on Chinese imports dropping from 145% to
30%. China agreed to reduce its tariffs on the U.S. from 125% to 10% for 90
days while negotiations progress. Financial markets loved the news, with the
Dow Jones soaring over 1,000 points on Monday. Meanwhile, U.S. grain markets
were also preoccupied with the release of the May WASDE report from the USDA,
which held mixed results for U.S. grains but was friendly to soybeans,
resulting in a strong move higher for soybean futures on Monday.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   July corn closed down 1 3/4 cents and December corn was up 3 1/2 cents. July
soybeans closed up 19 1/2 cents and November soybeans were up 27 cents. July KC
wheat closed down 9 1/2 cents, July Chicago wheat was down 6 1/2 cents, July
Minneapolis wheat was down 9 1/2 cents.