DTN Closing Grain Comments    05/05 13:44
   Row Crops Fall Tuesday on Steady Crop Progress, Weaker Energy Markets

   It was an overall day of profit-taking across U.S. crop futures Tuesday with
Monday afternoon's Crop Progress report offering few surprises to traders.
Meanwhile, the U.S. government has downplayed Monday's Iranian attacks in the
Strait of Hormuz, which reportedly included strikes against U.S. warships as
well as U.A.E. oil infrastructure. The U.S. military successfully escorted two
U.S. flagged vessels through the Strait of Hormuz on Monday as well, another
factor contributing to lower energy futures on Tuesday with crude oil giving
back roughly half of Monday's gains. Equity markets were higher on optimism
that Tuesday's rhetoric may signal a resumption of ceasefire negotiations
between the U.S. and Iran.

Rhett Montgomery
Senior Market Analyst

GENERAL COMMENTS:

   July corn closed down 5 3/4 cents and December corn was down 4 cents. July
soybeans closed down 11 1/4 cents and November soybeans were down 7 1/4 cents.
July KC wheat closed down 4 1/2 cents, July Chicago wheat was down 13 1/4
cents, July MIAX Minneapolis wheat was down 3 cents.