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DTN Early Word Grains         05/22 05:51
   Grain Markets Higher as Rough Weather Moves Through U.S. Western Corn Belt

   July corn is up 3 1/4 cents per bushel, July soybeans are up 4 cents, July
KC wheat is up 13 cents, July Chicago wheat is up 13 1/4 cents and July
Minneapolis wheat is up 10 1/2 cents.

Kent Beadle, DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: July corn is up 3 1/4 cents per bushel,
July soybeans are up 4 cents, July KC wheat is up 13 cents, July Chicago wheat
is up 13 1/4 cents and July Minneapolis wheat is up 10 1/2 cents.

   CME GLOBEX RECAP: World equity markets are mostly lower Wednesday morning,
despite Tuesday's rebound in U.S. futures that allowed the S&P 500 to make a
new lifetime high daily close. Traders monitoring speeches from members of the
Federal Reserve continue to get a mix of both hawkish and dovish comments that
suggest that new future data points will likely be the driver for the decision
on when the first interest rate cut occurs.

   Wednesday morning, we will get our first economic data of the week, with
existing home sales being released Wednesday morning. Thursday brings initial
jobless claims, flash PMIs, and new home sales.

   OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial
Average up 66.22 at 39,872.99 and the S&P 500 up 13.28 at 5,321.41, The 10-Year
Treasury yield ended at 4.41%. Early Wednesday, the June Dow Jones Futures are
down 48 points. European markets are lower with the spot futures of London's
FTSE 100 trading down 0.3%, spot futures of Germany's DAX is trading down 0.19%
and the spot futures of France's CAC 40 Index down 0.41%. Asian markets are
mixed with Japan's Nikkei 225 Index down 0.85% and China's Shanghai Composite
Index up 0.02%.
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