DTN Closing Grain Comments    03/31 14:21
   Soybeans Move Higher as USDA Sees Lower Than Expected Plantings

   Soybean futures posted double-digit gains on Tuesday following the release
of the 2026 Prospective Plantings report, as well as the March quarterly Grain
Stocks release. Both reports were more or less in line with trader
expectations, though the soybean acreage estimate was lower than the average
trade estimate as the shift away from corn was forecasted to not be as drastic
as many were thinking. Meanwhile, wheat futures moved higher as well after
another round of falling winter wheat crop ratings to start the week, as well
as what is expected to be the lowest area planted to wheat in the U.S. since
1919. Energy markets were mixed to lower on Tuesday after President Trump
reportedly expressed willingness to end U.S. military action in the Middle East
without a forceful reopening of the Strait of Hormuz. Equities traded higher on
the notion the conflict may be winding down, but the volatility in energy
prices is likely to continue until the trade outlook through the Persian Gulf
can be assessed with a higher degree of certainty.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   May corn closed up 2 cents and July corn was up 3/4 cent. May soybeans
closed up 11 1/4 cents and July soybeans were up 11 cents. May KC wheat closed
up 9 1/4 cents, May Chicago wheat was up 9 1/4 cents, May MIAX Minneapolis
wheat was up 6 1/2 cents.