DTN Closing Grain Comments    06/22 13:49
   Soybean Oil Recovers While Corn and Wheat Fall to Begin Week

   The row crop complex was overall mixed to lower on Monday, with grain
markets lower but the soybean oil market (and other oilseed markets such as
canola) higher. Outside energy markets opened Sunday evening supported after
Iran reportedly suspended negotiations with the U.S. However, talks are
apparently back on track with the U.S. Treasury officially lifting sanctions on
Iranian oil for 60 days while Iran has agreed to allow nuclear inspectors back
into the country. Crude oil futures are, as a result, now headed for a seventh
straight lower session and continue to be a bearish influence on row crops.
However, despite this influence, soybean oil recovered on Monday from a
three-day skid, which in turn supported soybean futures to some degree. Intense
heat across Europe and concerns over rapeseed production in 2026 was the main
driver.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   July corn closed down 6 cents and December corn was down 4 1/2 cents. July
soybeans closed down 7 cents and November soybeans were down 1 1/4 cents. July
KC wheat closed down 10 1/2 cents, July Chicago wheat was down 8 1/4 cents,
July MIAX Minneapolis wheat was down 10 1/4 cents.