DTN Closing Grain Comments    09/30 14:26
   Stocks Surprise Sends Corn to Six-Week Low, Selling Spills into Soybeans

   Wednesday's session was centered around the release of the Sept. 1 Grain
Stocks and Small Grains Summary from USDA. The reports were almost a rinse and
repeat of the adjustments seen a year ago, with a surprisingly bearish jump in
corn stocks from what USDA has been estimating through the summer. Soybeans and
wheat were much more in line with expectations and overall neutral though
liquidation in corn eventually spread into those markets as well. Outside
energy markets were firm as traders watch for updates regarding the war in the
Middle East, with the U.S. on Wednesday sending a counterproposal to Iran's
ceasefire plan. The Black Sea war continues with no fresh reports on
negotiation efforts.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   December corn closed down 21 1/4 cents and March corn was down 20 1/2 cents.
November soybeans closed down 4 3/4 cents and January soybeans were down 3 1/2
cents. December KC wheat closed down 10 cents, December Chicago wheat was down
17 cents, December MIAX Minneapolis wheat was down 6 cents.