DTN Closing Grain Comments    02/27 13:49
   Wheat Futures Erupt Along With Oil as US-Iran Negotiations End With No Deal

   The wheat market led row crops higher on Friday, shaking off an otherwise
sluggish week as traders took Thursday's successful hold of chart support, and
lack of a deal between the U.S. and Iran as reason enough to halt profit-taking
and follow the influence of higher crude oil prices to close the week. Along
those lines, there were reports that Thursday's negotiations made some
progress, and talks are expected to continue. Meanwhile, the surge in wheat
prices positively influenced corn futures as well, which rose for the third
straight session while covering technical ground. Soybeans were mixed through
much of the session, struggling with resistance and hedging pressure as prices
tread among November highs currently, but well supported to the downside by
trade optimism and concerning conditions for the Argentine crop and ultimately
managing a very strong close for the week. In outside markets, equities moved
sharply lower again with the Dow Jones Industrial Average threatening a monthly
loss for February, which would be the first monthly loss since April of 2025.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   May corn closed up 5 cents and July corn was up 4 3/4 cents. May soybeans
closed up 7 1/4 cents and July soybeans were up 6 1/2 cents. May KC wheat
closed up 18 1/4 cents, May Chicago wheat was up 17 cents, May MIAX Minneapolis
wheat was up 14 cents.