DTN Closing Grain Comments    05/23 13:52
   Grains Trade Mostly Lower Friday to Close Otherwise Positive Week For Price
Action

   Row-crop prices were softer overall Friday as the strong price rallies
across corn, soybeans, and wheat ran out of steam heading into the long
weekend, although Friday's session also featured a drop in volume behind the
trade. Traders will want to watch for Friday afternoon's Commitments of Traders
data, which will offer insight into short-covering over the last week and a
half rally in prices. In outside markets, stocks were again on edge Friday
following President Trump making new tariff threats against the European Union
as well as Apple, Inc. President Trump noted in social media posts that
negotiations thus far with the E.U. were "going nowhere" and followed up by
floating the idea of a 50% tariff beginning June 1. The U.S. dollar sank on the
news, dropping for the fourth time out of five sessions this week. Crude oil
markets were lower to begin Friday on the refreshed trade concerns but have
since recovered in choppy trade which has been the feature of the oil market
over the past week.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   July corn closed down 3 1/2 cents and December corn was down 2 1/2 cents.
July soybeans closed down 7 1/4 cents and November soybeans were down 4 3/4
cents. July KC wheat closed down 1 1/4 cents, July Chicago wheat was down 2
cents, July MIAX Minneapolis wheat was up 6 1/4 cents.