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DTN Closing Grain Comments    04/17 13:58
   U.S. Markets Drift Lower to Close Quiet, Shortened Trading Week

   Chicago and Minneapolis wheat markets were able to build off Wednesday's
strength to trade mostly higher yet again Thursday. Corn and Kansas City wheat
faded off early highs to close out what was mostly a sideways to slightly lower
week for price action with dwindling volume behind the trade as the week
progressed. Soybean markets were slightly lower Thursday as May futures
remained mostly stagnant this week, caught between chart resistance and
support. Outside markets were on edge following Fed Chair Jerome Powell's
comments on Wednesday that the Federal Reserve may face a difficult task in
balancing tariff driven inflation with future rate decisions. Powell's comments
drew the ire of President Trump, who said early Thursday that the Chair's
termination "cannot come fast enough". The U.S. dollar inched higher on
Thursday, attempting to post just its fourth higher session since the
announcement of the reciprocal tariff policy on April 2. Energy markets were
mostly positive, which provided strength to the vegetable oil complex, with
soybean oil inching higher to close the week.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   May corn closed down 2 cents and December corn was down 3/4 cents. May
soybeans closed down 2 1/4 cents and November soybeans were down 1 3/4 cents.
May KC wheat closed down 1/2 cents, May Chicago wheat was up 1 cent, May
Minneapolis wheat was up 2 1/2 cents.
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