DTN Closing Grain Comments    09/22 13:55
   Wheat Pulls Corn, Soybeans Lower Tuesday As September Selloff Resumes

   Soybean futures bounced from early lows on Tuesday, maintaining an
optimistic outlook ahead of the meeting between Presidents Trump and Xi later
this week, while ultimately sinking to mild losses on the session. Grain
futures were softer as well, with wheat giving back Monday's gains as
diplomatic efforts to end the war over energy and trade ramp up in the Black
Sea. Corn was caught between soybean and wheat prices on their way to moderate
losses. Outside energy futures were mixed, with lower crude oil prices for the
fifth straight day. However, diesel prices recovered on a test of ten-day lows
early Tuesday. Geopolitical signals were mixed on Tuesday, with reports that
Iran is offering to reopen the Strait of Hormuz if the U.S. lifts the blockade
of Iranian ports. Meanwhile, President Trump ramped up threats against Iran in
his speech at the United Nations on Tuesday, but later reportedly met with the
Iranian delegation in what the President described as a "very good meeting".
Equities were mixed for Tuesday while treasuries were lower and yields higher
on lingering inflation concerns and thoughts that interest rates will continue
to rise.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   December corn closed down 6 1/4 cents and March corn was down 5 3/4 cents.
November soybeans closed down 2 1/2 cents and January soybeans were down 2 3/4
cents. December KC wheat closed down 13 1/4 cents, December Chicago wheat was
down 9 1/2 cents, December MIAX Minneapolis wheat was down 10 cents.