DTN Closing Grain Comments    12/17 13:46
   Record Ethanol Production Boosts Corn, While Soybeans Search For Support at
Midweek

   It was another mixed to bearish session for U.S. row crops on Wednesday as
South American weather bears continue to lead liquidation efforts in the
soybean complex, although prices ultimately found interested buyers over the
last couple of hours of trade and are oversold from a technical viewpoint.
Meanwhile, corn futures found support when March prices fell below the 100-day
moving average on Tuesday, rebounding to recapture those losses Wednesday.
Wheat markets in the meanwhile fell to new lows in Chicago and Minneapolis.
Energy markets turned higher from early 2021 lows set on Tuesday, going largely
ignored in the ag sector other than positive influence on corn futures,
especially following a mostly positive weekly ethanol report from the Energy
Information Administration (EIA). Equities were again weaker on Wednesday as
well on profit-taking following last week's surge to a new record for the Dow
Jones Industrial Average.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   March corn closed up 4 cents and May corn was up 3 1/4 cents. January
soybeans closed down 4 1/2 cents and March soybeans were down 3 cents. March KC
wheat closed up 2 3/4 cents, March Chicago wheat was down 3 1/4 cents, March
MIAX Minneapolis wheat was down 3 cents.