DTN Early Word Grains         07/24 05:45
   Weather Market Keeps Row-Crops Rally Alive

   December corn is up 1 3/4 cents per bushel, November soybeans are up 5 1/2
cents, September KC wheat is up 10 1/2 cents, September Chicago wheat is up 6
3/4 cents, and MIAX September Minneapolis wheat is up 0.0725 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: December corn is up 1 3/4 cents per
bushel, November soybeans are up 5 1/2 cents, September KC wheat is up 10 1/2
cents, September Chicago wheat is up 6 3/4 cents, and MIAX September
Minneapolis wheat is up 0.0725 cents.

   CME GLOBEX RECAP: On Thursday, September corn rose 2 cents, November
soybeans rose 4 3/4 cents, and September KC wheat dropped 3 3/4 cents. Corn
basis was steady, while soybean and soft red winter wheat basis were weaker
Thursday, and spring wheat and hard red winter wheat basis were stronger. A
hot, dry weather outlook for the Midwest to end the month and start August
underpinned Thursday's higher trading for corn and soybeans. Soybean prices, at
four-year highs, have been higher in four of the last five sessions. Corn
prices, retesting July highs, are trading in a counter-seasonal pattern.
Meanwhile, profit-taking pressured the wheat market. In the outside markets,
reports of strikes against two Saudi oil tankers in the Red Sea by Houthi
militants sent Brent crude futures back over $100 per barrel for the first time
in two months. On Friday, USDA will release two significant cattle-related
reports in the afternoon: the July Cattle on Feed and biannual Cattle Inventory
reports, both at 2 p.m. CDT. Shortly after, CFTC will release the weekly
Commitments of Traders report at 2:30 p.m. CDT, which will close the week by
updating trader positions as of Tuesday, July 21.

   OUTSIDE MARKETS: The previous close on Thursday showed the Dow Jones
Industrial Average down 506.93 at 51,711.65 and the S&P 500 down 90.66 at
7,408.30. The 10-Year Treasury yield ended at 4.703%. Early Friday, the
September Dow Jones Futures are up 293 points. European markets are higher,
with the spot futures of London's FTSE 100 trading up 0.43%, and spot futures
of Germany's DAX are trading up 1.16%. Asian markets are lower, with Japan's
Nikkei 225 Index down 2.73% and China's Shanghai Composite Index down 1.61%.