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DTN Early Word Grains         01/14 05:55
   Wheat Futures Collapse Extends; Soy Complex Leaks Lower

   March corn is up 1 1/4 cents, March soybeans are down 6 3/4 cents, and March
KC wheat is down 10 3/4 cents.

Dana Mantini
Senior Market Analyst

   Pre-6 a.m. Globex Prices: March corn is up 1 1/4 cents, March soybeans are
down 6 3/4 cents, and March KC wheat is down 10 3/4 cents.

   CME Globex Recap: Early on Friday, Dow Jones futures are up, with European
and Asian markets lower. The bond market is higher. Weather in the U.S.
features a snow and ice storm making its way across the northern Plains and
into Iowa, then across the Midwest. In South America, following extreme heat in
Argentina, forecast well over 100 degrees on Friday, temperatures cool down and
widespread rains are expected to fall in parts of southern Brazil, and most of
Argentina over the weekend and next week.

   OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial
Average down 176.70 at 36,113.62 and the S&P 500 down 67.32 at 4,659.03 while
the 10-Year Treasury yield ended at 1.747%. Early Friday, the March DJIA
futures are up 83 points. Asian markets are lower with Japan's Nikkei down
364.85 (-1.28%) and China's Shanghai Composite down 34 points (-0.96%).
European markets are lower with London's FTSE 100 down 7.77 points (+0.10%),
Germany's DAX down 113.27 points (-0.072%) and France's CAC 40 down 50.66
points (-0.70%). The March Euro is at 1.15, and the March U.S. Dollar Index is
up .005 at 94.78. The March 30-Year T-Bond is down 21/32nds, while February
gold is up 1.00 at $1,822.40 and Feb crude oil is up .89 at $83.01. Soybeans on
China's Dalian Exchange are a bit higher and soybean meal is also higher.
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