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DTN Early Word Grains         06/17 05:47
   Grain Markets Lower as Traders Look Past This Week to More Moderate Weather

   July corn is down 5 1/4 cents per bushel, July soybeans are down 15 cents,
July KC wheat is down 14 1/4 cents, July Chicago wheat is down 16 1/4 cents and
September Minneapolis wheat is down 6 3/4 cents.

Kent Beadle, DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: July corn is down 5 1/4 cents per bushel,
July soybeans are down 15 cents, July KC wheat is down 14 1/4 cents, July
Chicago wheat is down 16 1/4 cents and September Minneapolis wheat is down 6
3/4 cents.

   CME GLOBEX RECAP: World equity markets are lower to begin the new week. Last
week, both the S&P 500 and the NASDAQ made new lifetime highs, as interest
rates fell on the weaker than expected inflation data. The Federal Reserve kept
rates unchanged but said it will be data dependent on when the first cut does
take place. The data is starting to skew toward a rate cut.

   There are several economic reports this week. On Monday we get the Empire
State Manufacturing Survey while Tuesday is Retail Sales, Industrial
Production, Capacity Utilization, and Business Inventories. Markets are closed
on Wednesday. Thursday brings Initial Jobless Claims, Housing Starts, and
Building Permits. Friday gives U.S. the S&P flash PMI's, Existing Home Sales,
and U.S. Leading Economic Indicators.

   In agriculture, we will get weekly inspections on Monday, along with the
monthly NOPA crush report. Wednesday's holiday will push back ethanol
production to Thursday, and Export Sales to Friday. Additionally on Friday, we
will get a cattle on feed report, a milk production report, and weekly CFTC
data.

   OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial
Average down 57.94 at 38,589.16 and the S&P 500 down 2.14 at 5,431.60, The
10-Year Treasury yield ended at 4.21%. Early Monday, the June Dow Jones Futures
are down 98 points. European markets are lower with the spot futures of
London's FTSE 100 trading down 0.4%, spot futures of Germany's DAX is trading
down 0.28% and the spot futures of France's CAC 40 Index down 0.28%. Asian
markets are lower with Japan's Nikkei 225 Index down 1.83% and China's Shanghai
Composite Index down 0.55%.
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