DTN Early Word Grains         05/23 05:47
   Grain Markets Slightly Lower, Correcting Strong Weekly Gains

   July corn is down 1/2 cent per bushel, July soybeans are down 1/2 cent, July
KC wheat is down 5 cents, July Chicago wheat is down 1 1/4 cents and July
Minneapolis wheat is up 1 3/4 cents.

Kent Beadle, DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: July corn is down 1/2 cent per bushel,
July soybeans are down 1/2 cent, July KC wheat is down 5 cents, July Chicago
wheat is down 1 1/4 cents and July Minneapolis wheat is up 1 3/4 cents.

   CME GLOBEX RECAP: Equity markets are mixed after a quiet session on Thursday
where U.S. futures managed to recover to close near unchanged for the session.
Thursday was the only day of significant economic reports, and the S&P flash
PMI's were better than inspected in both services and in manufacturing. Jobless
claims were lower than anticipated as well. Meanwhile, the recent break in the
bond market is making interest rate cuts a more difficult proposition for the
Federal Reserve. Some analysts now are not expecting any cuts in 2025. Reports
that the U.S. and China are having trade talks has helped U.S. markets recover
some overnight losses. The last major economic data point this week will be new
home sales which will be released Friday morning.

   OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial
Average down 1.35 at 41,859.09 and the S&P 500 down 2.60 at 5,842.01. The
10-Year Treasury yield ended at 4.553%. Early Friday, the June Dow Jones
Futures are down 45 points. European markets are mixed with the spot futures of
London's FTSE 100 trading up 0.18%, spot futures of Germany's DAX are trading
up 0.07% and the spot futures of France's CAC 40 Index down 0.5%. Asian markets
are mixed with Japan's Nikkei 225 Index up 0.47% and China's Shanghai Composite
Index down 0.94%.