DTN Closing Grain Comments 02/03 14:06

DTN Closing Grain Comments 02/03 14:06 Row Crop Markets Finish Higher in Volatile Start to February Trade Row crop markets were extremely volatile following a weekend worth of tariff speculation, which continues to be an ongoing development. The 25% tariff on Mexico, which was set to go into effect Tuesday, has already been postponed one month following a tentative agreement made between Mexico and U.S. officials regarding the border. Grain futures quickly found strength on the news, with corn futures posting an 18 1/2 cent range to begin the week, while soybeans posted a 28 1/2 cent range as well. Outside markets traded inflationary concerns to begin the week, with the U.S. dollar trading to its highest level since its mid-January peak. Although, as trade concerns eased, so did the dollar. Crude oil futures were also higher, attempting a breakout of their recent price slump. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed up 6 3/4 cents and May corn was up 6 3/4 cents. March soybeans closed up 16 1/4 cents and May soybeans were up 15 1/4 cents. March KC wheat closed up 6 1/2 cents, March Chicago wheat was up 7 1/4 cents, March Minneapolis wheat was up 1 cent.