DTN Early Word Grains         06/24 05:51
   Row-Crop Markets Trade Topsy-Turvy Weather, China Demand

   July corn is up 3/4 cent per bushel, November soybeans are up 2 3/4 cents,
September KC wheat is up 1 3/4 cents, September Chicago wheat is up 3/4 cent,
and MIAX September Minneapolis wheat is up 0.0200 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: July corn is up 3/4 cent per bushel,
November soybeans are up 2 3/4 cents, September KC wheat is up 1 3/4 cents,
September Chicago wheat is up 3/4 cent, and MIAX September Minneapolis wheat is
up 0.0200 cents.

   CME GLOBEX RECAP: On Tuesday, July corn dropped 1 3/4 cents, July soybeans
rose 1 1/4 cents, and July KC wheat dropped 15 1/4 cents. Soybean, corn, and
spring wheat basis were stronger on Tuesday, while hard red winter basis was
steady, and soft red winter basis was weaker. Traders ignored the extreme heat
in Europe, which was impacting the wheat crop, and instead sold the market on
plentiful global supplies. As a result, corn prices fell just above the July
contract's low hit last week. Soybean prices were underpinned on Tuesday by
China's interest in U.S. soybean purchases. After a rumor last week, China did
buy U.S. soybeans this week. That reaffirms to traders that China is in the
market. Higher CIF basis levels at the Gulf are signaling to some traders that
China may be eyeing U.S. corn as well. The outside energy markets recorded an
eighth straight day down on Tuesday.

   OUTSIDE MARKETS: The previous close on Tuesday showed the Dow Jones
Industrial Average down 45.87 points to 51,666.84 and the S&P 500 down 107.33
points to 7,365.46. The 10-Year Treasury yield ended at 4.493%. Early
Wednesday, the September Dow Jones Futures are down 74 points. European markets
are lower, with the spot futures of London's FTSE 100 trading down 0.27%, the
spot futures of Germany's DAX trading down 1.1%, and the spot futures of
France's CAC 40 Index trading up 0.22%. Asian markets are mixed, with Japan's
Nikkei 225 Index down 0.88% and China's Shanghai Composite Index up 0.11%.