DTN Closing Grain Comments    04/23 13:49
   Wheat Charges Higher as Drought Spreads Across US

   Corn and soybean futures were quiet on Thursday, trading very similarly to
Wednesday's session. Meanwhile, wheat was the star of the show, with Kansas
City futures soaring to new 2026 highs after USDA's morning Drought Monitor
update showed a lingering degree of drought across the U.S., but specifically
in the Central and Southern Plains. Geopolitical news was quiet as well on
Thursday, with the U.S. and Iran locked in a fight for control of the Strait of
Hormuz. Crude oil futures have moved higher each session thus far this week.
Equities were mostly lower but overall have enjoyed a solid rally through April
and back to record levels on the S&P 500.

Rhett Montgomery
Senior Market Analyst

GENERAL COMMENTS:

   May corn closed up 1 1/4 cents and July corn was up 1 cents. May soybeans
closed down 4 3/4 cents and July soybeans were down 4 3/4 cents. May KC wheat
closed up 29 cents, May Chicago wheat was up 11 1/2 cents, May MIAX Minneapolis
wheat was up 9 1/4 cents.