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DTN Early Word Grains         05/17 05:55
   Wheat Prices Start Lower With Rain in the Forecast

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

Todd Hultman
DTN Lead Analyst

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

   CME Globex Recap:  Early Monday, Dow Jones futures are trading lower with
European stocks mixed. Reuters reported thousands of gasoline stations in the
eastern U.S. received more fuel over the weekend and a company spokesman said
Colonial Pipeline is currently shipping at normal rates. Rocket attacks and air
strikes increased the death toll in Israel and Gaza over the weekend, while the
United Nations tries to negotiate a ceasefire. According to
industrial production in China increased 9.8% in April from a year ago, roughly
as expected.

   OUTSIDE MARKETS:  Previous closes Friday showed the Dow Jones Industrial
Average up 360.68 at 34,382.13 and the S&P 500 up 61.35 at 4,173.85 while the
10-Year Treasury yield eased back to 1.63%. Early Monday, June Dow Jones
futures are trading down 113 points. Asian markets are x with Japan's Nikkei
225 index down 0.92% and China's Shanghai Composite Index up 0.78%. European
markets are mixed with the spot futures of the London FTSE 100 trading down
0.44%, spot futures of Germany's DAX trading up 0.08% and spot futures of
France's CAC Index trading down 0.09%. The June euro is up $0.0005 at $1.2155.
The June U.S. Dollar Index is down 0.03 at 90.29. The June 30-year T-bond is up
1/4nds, while June gold is up $13.70 at $1,851.80 and June crude oil is up
$0.20 at $65.57. On China's Dalian exchange, September corn was up 0.04%, July
soybeans were down 0.3%, September soybean meal was down 0.5% and September
soybean oil was up 0.3%. July common wheat on China's Zhengzhou exchange was
unchanged. Back from holiday, July Malaysian palm oil is trading down 0.8%.
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