DTN Closing Grain Comments    01/12 14:31
   Bearish Shock From USDA Sinks Row Crop Futures to Begin Week

   Row crop futures were sharply lower on Monday, led by a 24 1/4 cent plunge
in corn futures to the lowest price for the most active contract since October
15. USDA reports were surprisingly bearish for corn, with a
larger-than-expected stocks rise for soybeans as well. Meanwhile, estimates for
the U.S. and world wheat markets were certainly bearish in levels, but were
widely expected to be so, and as a result, the market reaction was much more
muted compared to corn and soybeans. Outside markets were overshadowed by USDA
data but would normally have been supportive to ag futures, with a softer U.S.
Dollar (yet just the second lower day in the past 12 days). Energy markets were
also higher for the third straight day on geopolitical risks.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   March corn closed down 24 1/4 cents and May corn was down 23 1/4 cents.
March soybeans closed down 13 1/2 cents and May soybeans were down 12 3/4
cents. March KC wheat closed down 3 1/2 cents, March Chicago wheat was down 6
cents, March MIAX Minneapolis wheat was down 1 3/4 cents.