DTN Closing Grain Comments    04/30 13:43
   Grains Slip on Profit-Taking After Rise to Calendar Year Highs

   Thursday featured a general risk-off attitude amongst traders, particularly
in the wheat market where prices fell steadily after hitting almost two-year
highs early this week. Spillover weakness extended to the corn market, while
soybeans were more resilient with traders still willing to wait for the results
of the Trump/Xi summit in May before casting their votes on longer-term price
direction. In macro news, the U.S. economy returned to steady growth through
the first quarter of 2026, with GDP growing at a 2% annual rate. Meanwhile,
inflation has heated up since the onset of the war in the Middle East, with the
Personal Consumption Expenditure Index hitting its highest rate in almost three
years in March, even when excluding energy and food prices. For Thursday,
energy futures were mostly softer with no significant developments regarding
the standstill in the Strait of Hormuz.

Rhett Montgomery
Senior Market Analyst

GENERAL COMMENTS:

   July corn closed down 3 cents and December corn was down 3 1/2 cents. July
soybeans closed down 1 1/2 cents and November soybeans were up 1 3/4 cents.
July KC wheat closed down 11 1/4 cents, July Chicago wheat was down 16 1/4
cents, July MIAX Minneapolis wheat was down 9 3/4 cents.