DTN Closing Grain Comments    10/23 14:43
   Mixed Close to the Week as Soybeans Trade Higher, Corn and Wheat Lower

   Soybean futures posted a second straight higher session, with bullish
traders gaining confidence following Wednesday's hold of long-term trend
support near $12.50 on the January contract. Grain futures, on the other hand,
were lower with wheat futures unable to sustain an early bounce and falling for
a seventh straight session on the December KC contract. Fundamental news was
slim on Friday, with soybeans finding spark from a very strong mid-October for
demand while U.S. corn and wheat demand remains lackluster and supplies of
course are surging at the peak of the U.S. corn harvest. The war in the Black
Sea continues despite recent optimism for renewed ceasefire negotiations, with
more reports of attacks and sinking of vessels through the week. Energy markets
were firm with most active WTI crude futures higher in seven of the past 10
days and back over the $100 per barrel level. The market is responding to
comments on Friday from U.S. Ambassador Mike Waltz saying that the U.S. war
with Iran could possibly go on for another year.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   December corn closed down 4 1/2 cents and March corn was down 4 cents.
November soybeans closed up 3 1/2 cents and January soybeans were up 3 3/4
cents. December KC wheat closed down 1 1/4 cents, December Chicago wheat was up
a 1/4 cent, December MIAX Minneapolis wheat was down a 1/4 cent.