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DTN Early Word Grains         07/16 05:58
   Row Crops Firmer While Wheat Takes a Breather

   December corn is up 2 1/4 cents per bushel, November soybeans are up 3 1/4
cents, and September KC wheat is down 1 cent.

Tregg Cronin
DTN Contributing Analyst

   Pre-6 a.m. Globex Prices:  December corn is up 2 1/4 cents per bushel,
November soybeans are up 3 1/4 cents, and September KC wheat is down 1 cent.

   CME Globex Recap: Lower equities around the globe overnight, led by China as
indices there tumbled between 4-5% as economic data came in worse than
expected. Chinese GDP for the second quarter was just 3.2% compared with the
same period a year earlier but was stronger than the negative economic growth
during Q1. In addition, retail sales in the world's second largest economy fell
1.8% from a year earlier, the fifth consecutive monthly decline. The data
doesn't paint a rosy picture for the U.S. during Q2. Energy markets are weaker
but mostly holding recent gains. The U.S. Dollar Index is firmer overnight,
trying to close higher for the first time in six sessions. Grains are mixed
overnight with corn and soybeans higher while wheat posts small losses. The
buying spree by China of late has been adding underlying support, especially in
wheat which saw Chicago wheat hit the highest prices in three months. Weather
is still the chief driver in row crops, however, and corn will have a difficult
time bucking the improving weather trend.

   OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones
Industrial Average up 227.51 at 26,870.10 and the S&P 500 up 29.04 at 3,197.52
while the 10-Year Treasury yield ended at 0.63%. Early Thursday, the September
DJIA futures are down 202 points. Asian markets are lower with Japan's Nikkei
225 down 175.14 (-0.76%) and China's Shanghai Composite down 151.21 points
(-4.5%). European markets are lower with London's FTSE 100 down 60.06 points
(-0.95%), Germany's DAX down 99.66 points (-0.77%) and France's CAC 40 down
52.35 points (-1.02%). The September Euro is down 0.001 at 1.140 and the
September U.S. dollar index is up 0.111 at 96.150. The September 30-Year T-Bond
is up 5/32nds, while August gold is down $7.40 at $1,806.40 and August crude
oil is down $0.51 at $40.69. Soybeans on China's Dalian Exchange were down
0.04% while soybean meal was up 0.42%.
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