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DTN Closing Grain Comments 02/18 13:55
Soybeans Reverse Ahead of Outlook Forum With Higher Acreage Expected
U.S. crop markets traded almost uniformly higher overnight before turning
mixed through the day session Wednesday. Two-sided trade was especially
prevalent in the soybean market with futures technically overbought and feeling
top heavy ahead of the USDA Ag Outlook Forum (with balance sheets unveiled
early Thursday), which is expected to show higher soybean area to be planted in
2026. Wheat futures held to a nice recovery after an ugly session on Tuesday,
while corn futures were stagnant and caught between influences from wheat and
soybean markets. Outside markets for Wednesday were mixed with the U.S. Dollar
Index moving higher for the third straight session and five of the past six.
Crude oil futures have surged higher at midweek, back among the highest levels
of 2026 thus far amid risk with negotiations between the U.S. and Iran ongoing
but thus far reportedly yielding little in the way of a clear nuclear deal.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
March corn closed up 3/4 cent and May corn was up 1 cent. March soybeans
closed down 1/2 cent and May soybeans were up 1/4 cent. March KC wheat closed
up 12 1/4 cents, March Chicago wheat was up 9 1/4 cents, March MIAX Minneapolis
wheat was up 5 3/4 cents.
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