DTN Closing Grain Comments    01/13 15:53
   Row-Crop Futures Leak Lower in Wake of Bearish USDA Data

   Row-crop futures traded mixed to lower Tuesday in fallout after Monday's
much-more-bearish report than even the most already bearish traders and
analysts expected. The question now becomes how quickly traders will choose to
move past the USDA estimates and ahead to what will be a very busy first
quarter of 2026 for further fundamental developments. Outside markets for
Tuesday were mixed, with a higher U.S. dollar for the eleventh time in the past
13 sessions as Tuesday's CPI reading was steady at 2.7% year-over-year
inflation. Energy prices were firm for the fourth straight session amid growing
turmoil in Iran and President Trump renewing tariff threats against countries
that trade with Iran. Equity markets were lower on profit-taking amid record
highs for the Dow Jones Industrial Average and S&P 500.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   March corn closed down 1 3/4 cents and May corn was down 2 3/4 cents. March
soybeans closed down 10 1/4 cents and May soybeans were down 9 3/4 cents. March
KC wheat closed down 7 1/4 cents, March Chicago wheat was down 3/4 cents, March
MIAX Minneapolis wheat was up 3/4 cents.