DTN Early Word Grains         07/20 06:31
   Row-Crop Markets Driven by July's Weather Shifts

   December corn is up 6 1/2 cents per bushel, November soybeans are up 17 3/4
cents, September KC wheat is up 1/2 cent, September Chicago wheat is up 1 cent,
and MIAX September Minneapolis wheat is up 0.0300 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: December corn is up 6 1/2 cents per
bushel, November soybeans are up 17 3/4 cents, September KC wheat is up 1/2
cent, September Chicago wheat is up 1 cent, and MIAX September Minneapolis
wheat is up 0.0300 cents.

   CME GLOBEX RECAP: On Monday, September corn rose 6 cents, November soybeans
rose 8 cents, and September KC wheat rose 15 3/4 cents. Soybean, corn, and hard
red winter wheat basis were steady on Friday, while spring wheat and soft red
winter wheat basis were stronger. The wheat market led the way, supported by
uncertainty in the Black Sea grain trade. Meanwhile, soybeans were supported by
demand, with Friday's flash sales to China, Mexico, and an unknown destination
totaling 26 million bushels (mb). Though extreme heat in the Corn Belt last
week supported a bullish argument, rallies were capped by a cooler, slightly
wetter week ahead. With Ukraine escalating its war with Russia and the
U.S.-Iranian attacks increasing, energy markets are rising. On Monday, USDA
will release its usual Grain Export Inspections update at 10 a.m. CDT. At 3
p.m. CDT, the weekly Crop Progress report will be released and is highly
anticipated by traders, following a very hot and dry past week for the U.S.
Grain Belt.

   OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial
Average down 406.55 at 52,146.42 and the S&P 500 Index down 76.08 at 7,457.69.
The 10-Year Treasury yield ended at 4.54%. Early Monday, September Dow Jones
futures are up 115 points. European markets are mixed with the spot futures of
the London FTSE 100 trading down 0.21%, spot futures of Germany's DAX trading
up 0.18% and spot futures of France's CAC Index trading up 0.51%. Asian markets
are mixed as well with Japan's Nikkei 225 index down 4.03% and China's Shanghai
Composite Index up 0.85%.