DTN Closing Grain Comments    02/13 13:56
   Soybeans, Wheat Futures Feature Profit-Taking Ahead of Long Weekend

   It was an overall mixed to lower session in row-crop futures to close the
week, with corn showing resilience to trade marginally higher, while soybeans
and wheat futures fell as traders looked to square positions ahead of a long
weekend, with markets closed on Monday for Presidents Day. Overall, for the
week it was positive price action for U.S. grain markets as prices made
technical strides as well in holding chart support. Outside markets for Friday
traded primarily in reaction to a cooler than expected inflation reading via
the Consumer Price Index, which declined to 2.4% annual price growth, the
lowest since early 2021. This was a source of pressure to commodities early on
Friday, while also fueling recovery efforts in equities after a two-day selloff
through the middle of the week. The U.S. Dollar Index was lower on perceived
lower interest rates (as a result of lower inflation), while crude oil and
other energy markets recovered from daily lows in an otherwise narrow session
to close the week.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   March corn closed up 1/2 cent and May corn was up 1/4 cent. March soybeans
closed down 4 1/4 cents and May soybeans were down 3 3/4 cents. March KC wheat
closed down 11 1/2 cents, March Chicago wheat was down 3 3/4 cents, March MIAX
Minneapolis wheat was down 5 3/4 cents.