DTN Closing Grain Comments 02/19 13:51

DTN Closing Grain Comments 02/19 13:51 Grains Fade Off Early Highs, Test Support in Midweek Trade Grain markets overall had a softer feel Wednesday and early strength faded as the session wore on. The primary weakness stemmed from a correction in the wheat market, which isn't all that surprising given the explosive jump in price over the past three sessions. The double-digit moves lower in wheat ultimately pulled the corn and soy markets down as well. Outside markets were again mixed as equities were choppy on both sides of even after the S&P 500 set a record close on Tuesday and traded to an all-time intraday high on Wednesday. Meanwhile, President Trump's tariff considerations for automobiles and pharmaceuticals announced Tuesday led to a second straight day higher for the U.S. Dollar Index following five sessions lower last week which had aided the wheat market rally. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed down 4 1/2 cents and May corn was down 3 1/2 cents. March soybeans closed down 6 3/4 cents and May soybeans were down 7 1/4 cents. March KC wheat closed down 13 1/2 cents, March Chicago wheat was down 12 3/4 cents, March Minneapolis wheat was down 5 cents.