DTN Early Word Grains         07/15 05:55
   Wheat Rapidly Climbs in Overnight Trade, Pulling Corn and Soybeans Along

   September corn is up 5 cents and August soybeans are up 4 1/2 cents.
September KC wheat is up 25 1/2 cents, September Chicago wheat is up 22 3/4
cents, and September MIAX Minneapolis wheat is up 18 1/4 cents.

Rhett Montgomery
DTN Lead Analyst

   EARLY MORNING GLOBEX NET CHANGES: September corn is up 5 cents and August
soybeans are up 4 1/2 cents. September KC wheat is up 25 1/2 cents, September
Chicago wheat is up 22 3/4 cents, and September MIAX Minneapolis wheat is up 18
1/4 cents.

   CME GLOBEX RECAP: On Tuesday, September corn closed 2 1/2 cents lower to
$4.38 1/2. August soybeans were down 4 cents to $11.92 3/4, and September
Kansas City wheat was up 11 3/4 cents to $6.78. Corn and soybean markets
struggled to gain upward momentum on Tuesday amid technically based selling as
well as a somewhat surprising improvement noted to crop conditions in Monday's
USDA update. Wheat, on the other hand, quickly shook off a weaker start to
recapture Monday's losses as the ongoing closure of the Kerch Strait in the
Black Sea threatens to significantly shake up world wheat trade. Early
Wednesday, wheat is again marching higher, with corn and soybeans recovering
from Tuesday's slip as well. Outside energy markets have also been a bullish
influence through the week, with WTI crude futures attempting a third straight
higher session on Wednesday. For reports, the Energy Information Administration
will release the Petroleum Status report at 9:30 a.m. CDT on Wednesday morning.
At 11:00 a.m., NOPA will release the Monthly Soybean Crush report.

   OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial
Average up 9.63 at 52,508.27 and the S&P 500 Index up 28.25 at 7,543.59. The
10-Year Treasury yield ended at 4.59%. Early Wednesday, September Dow Jones
futures are down 7 points. European markets are mixed to lower with the spot
futures of the London FTSE 100 trading down 0.09%, spot futures of Germany's
DAX trading down 0.80% and spot futures of France's CAC Index trading up 0.01%.
Asian markets are mixed with Japan's Nikkei 225 index up 1.49% and China's
Shanghai Composite Index down 0.29%.