DTN Closing Grain Comments    05/01 13:48
   Markets Open May With Slow, Indecisive Session

   Row-crop markets continued to chop without much convincing direction as
traders are expressing uncertainty on where to place price bets moving forward
ahead of the spring data drop from the USDA on May 12. Meanwhile, equity
markets continue to press higher, with the S&P500 officially closing the gap
left by the April 2 reciprocal tariff announcement. Despite a hazy GDP reading
Thursday, a look at the data showed reasons for optimism, particularly the
surge in consumer spending. The U.S. dollar is breaking to the upside on
Thursday, trading to its highest level since April 11, which weighed negatively
on ag markets for Thursday. Crude oil futures featured a strong reversal action
for Thursday, which aided soybean oil prices in a recovery day, which in turn
lent strength to soybean futures.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   July corn closed down 3 1/4 cents and December corn was up 1 cent. July
soybeans closed up 5 3/4 cents and November soybeans were up 5 3/4 cents. July
KC wheat closed down 2 cents, July Chicago wheat was up 1/4 cents, July
Minneapolis wheat was down 1 1/2 cents.