DTN Early Word Grains         07/07 05:46
   Row-Crop Markets Attempt to Keep Weather Market Rally Alive

   December corn is steady, November soybeans are up 2 cents, September KC
wheat is down 2 3/4 cents, September Chicago wheat is down 1 1/2 cents, and
MIAX September Minneapolis wheat is down 0.0225 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: December corn is steady, November soybeans
are up 2 cents, September KC wheat is down 2 3/4 cents, September Chicago wheat
is down 1 1/2 cents, and MIAX September Minneapolis wheat is down 0.0225 cents.

   CME GLOBEX RECAP: On Monday, September corn rose 15 1/4 cents, November
soybeans rose 44 1/2 cents, and September KC wheat rose 11 1/4 cents. Corn,
soybean, and hard red winter wheat basis held steady on Monday, while soft red
winter wheat and hard red spring wheat basis weakened. Traders ignored the
subsoil moisture building in the Corn Belt in June and instead used a hot and
dry 6-10-day weather outlook to help the markets rally on Monday. The heatwave
in Europe is also feeding the bulls. Additionally, China is buying more U.S.
soybeans. Meanwhile, the market bears are not hibernating. Weekly crop
conditions are holding steady or above average, most drought conditions in the
country are improving, and acreage and ending stocks estimates remain robust.
With July and August being the most critical months, agronomically speaking,
traders will be watching daily weather forecasts for the Corn Belt.
Additionally, outside markets are bearish for row-crop markets, with crude oil,
though higher early Tuesday, near $73 per barrel.

   OUTSIDE MARKETS: The previous close on Monday showed the Dow Jones
Industrial Average up 155.84 points to 53,055.91 and the S&P 500 up 54.19
points to 7,537.43. The 10-Year Treasury yield ended at 4.479%. Early Tuesday,
the September Dow Jones Futures are up 106 points. European markets are mixed,
with the spot futures of London's FTSE 100 trading up 0.49%, the spot futures
of Germany's DAX trading down 0.5%, and the spot futures of France's CAC 40
Index trading up 0.34%. Asian markets are lower, with Japan's Nikkei 225 Index
down 2.12% and China's Shanghai Composite Index down 1.26%.