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DTN Early Word Grains         07/17 05:59
   Grains Soft as Forecasts Continue to Improve

   December corn is down 2 3/4 cents per bushel, November soybeans are down 1/2
cents, and September K.C. wheat is down 5 1/2 cents.

By Tregg Cronin
DTN Contributing Analyst

6:00 a.m. CME Globex:   December corn is down 2 3/4 cents per bushel, November
soybeans are down 1/2 cents, and September K.C. wheat is down 5 1/2 cents.

CME Globex Recap:   Mixed equities around the globe Wednesday morning with
focus on trade negotiations, or lack thereof, between the U.S. and China. In a
scenario we've all gotten too accustomed to, Trump Administration officials
suggested earlier in the week progress was being made and optimism was rising.
This was followed Tuesday by a reversal of that sentiment and fiery tweets by
the President which insinuated additional tariffs were at the ready and a deal
was nowhere in sight. Fortunately, it would seem these sort of antics are not
having the market influence they did during much of 2018, allowing our markets
to focus on actual price influence. Grain markets are weaker across the board
with rains moving across the Dakotas and cooling temperatures on the way for
the entire belt by the 10-day outlook. Bulls are quick to point out the
prospects for this crop finishing are dim but trading a season-ending frost on
July 17 is a difficult thing to quantify at the moment.

OUTSIDE MARKETS:   Previous closes Tuesday showed the Dow Jones Industrial
Average down 23.53 at 27,335.63 and the S&P 500 down 10.26 at 3,014.30 while
the 10-Year Treasury yield ended at 2.122%. Early Wednesday, the September DJIA
futures are up 23 points. Asian markets are lower with Japan's Nikkei 225 down
66.07 (-0.31%) and China's Shanghai Composite down 5.92 points (-0.2%).
European markets are mixed with London's FTSE 100 down 4.8 points (-0.06%),
Germany's DAX up 7.44 points (0.06%) and France's CAC 40 up 4.71 points
(0.08%). The September Euro is up 0.001 at 1.130 and the September U.S. dollar
index is down 0.041 at 97.000. The September 30-Year T-Bond is up 11/32nds,
while August gold is down $8.20 at $1,403.00 and August crude oil is up $0.36
at $57.98. Soybeans on China's Dalian Exchange were -0.77% while soybean meal
was -0.35%.
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