DTN Closing Grain Comments    03/11 13:46
   Soybeans Charge Higher on China Trade, Biofuel Optimism

   After a brief pause to review underlying fundamentals on Tuesday, markets
wasted no time building on their recent bullish trends with another buying
spree Wednesday. Once again, soybean oil set the tone rebounding after the
first consecutive lower closes for most active futures in over a month to post
another high close for the move. Expectations EPA will finalize their biofuel
blending mandates this month and those mandates will be very friendly to
agriculture is the primary bullish influence, despite USDA cutting soybean oil
demand in Tuesday's WASDE. Corn and wheat markets joined in on the rally with
soybeans paving the way higher. Outside markets were calmer on Wednesday, with
crude oil futures higher but setting lower highs for the second straight
session as IEA announced a record 400-million-barrel reserve release to
stabilize the market amid the trade choke in the Middle East. Equity markets
were lower again on unease regarding the oil situation and its potential impact
on the world economy.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   May corn closed up 8 cents and July corn was up 8 3/4 cents. May soybeans
closed up 12 1/4 cents and July soybeans were up 12 1/4 cents. May KC wheat
closed up 4 3/4 cents, May Chicago wheat was up 3 3/4 cents, May MIAX
Minneapolis wheat was up 3 cents.