DTN Early Word Grains         06/17 05:49
   Row-Crop Markets Stage Midweek Rally on China Soybean Interest

   July corn is up 2 cents per bushel, July soybeans are up 7 cents, September
KC wheat is up 7 cents, July Chicago wheat is up 7 cents, and MIAX September
Minneapolis wheat is up 0.0575 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: July corn is up 2 cents per bushel, July
soybeans are up 7 cents, September KC wheat is up 7 cents, July Chicago wheat
is up 7 cents, and MIAX September Minneapolis wheat is up 0.0575 cents.

   CME GLOBEX RECAP: On Tuesday, July corn dropped 1 3/4 cents, July soybeans
rose 10 3/4 cents, and July KC wheat dropped 6 1/4 cents. Soybean basis was
stronger on Tuesday, while corn, spring wheat, hard red winter wheat, and soft
red winter basis were steady. Soybeans rallied on optimism that China would buy
U.S. soybeans for late 2026 and early 2027 shipments, though nothing was
confirmed. Corn and wheat prices were pressured as crude oil dropped below $76
per barrel on Tuesday. The Middle Eastern peace deal is reportedly set to offer
Iran some sanctions relief to sell oil, conditional on the reopening of the
Strait of Hormuz. Traders await further details and a final signature from both
sides on Friday. The row-crop markets are doing a respectable job of ignoring
favorable Midwestern crop weather that remains in the forecast. On Wednesday,
the Energy Information Administration will release the weekly Petroleum Status
report at 9:30 a.m. CDT, including last week's ethanol production. At 1 p.m.,
the Federal Reserve will announce its latest interest rate decision, followed
by a press conference with new Fed Chair Kevin Warsh.

   OUTSIDE MARKETS: The previous close on Tuesday showed the Dow Jones
Industrial Average up 328.64 points to 51,999.67 and the S&P 500 down 42.94
points to 7,511.35. The 10-Year Treasury yield ended at 4.428%. Early
Wednesday, the June Dow Jones Futures are down 26 points. European markets are
lower, with the spot futures of London's FTSE 100 trading down 0.23%, the spot
futures of Germany's DAX trading down 0.13%, and the spot futures of France's
CAC 40 Index trading up 0.16%. Asian markets are higher, with Japan's Nikkei
225 Index up 0.72% and China's Shanghai Composite Index up 0.4%.