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DTN Closing Grain Comments    08/02 13:45
   Kansas City Wheat Futures Soar on Russian, U.S. Crop Downgrades

   As wheat yield prospects continue to wilt around the world, Kansas City
wheat took center stage Monday, rallying to a 30-cent gain. Corn and the other
wheat markets finished sharply higher as well, while soybeans fell prey to
plunging crude and vegetable oil markets, but were able to close higher.

Dana Mantini
Senior Market Analyst


   December corn closed up 14 cents per bushel, November soybeans finished up 4
1/4 cents, September KC wheat closed up 30 1/4 cents, September Chicago wheat
settled 25 3/4 higher and September Minneapolis wheat closed up 20 cents. The
September U.S. Dollar Index is trading down 0.113 at 92.075. The Dow Jones
Industrial Average is up 6.33 points at 34,941.80. December gold is up $0.90 at
$1,818.10, September silver is down $0.04 at $25.51 and September copper is
down $0.0660 at $4.4165. September crude oil is down $2.70 at $71.25, September
heating oil is down $0.0601, September RBOB is down $0.0600 and September
natural gas is up $0.020.
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