DTN Early Word Grains         05/26 05:51
   Wet Weather Underpins Bearish Row-Crop Markets to End May

   July corn is down 3 cents per bushel, July soybeans are down 7 3/4 cents,
July KC wheat is down 1 1/2 cents, July Chicago wheat is down 4 1/2 cents, and
MIAX July Minneapolis wheat is down 0.0275 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: July corn is down 3 cents per bushel, July
soybeans are down 7 3/4 cents, July KC wheat is down 1 1/2 cents, July Chicago
wheat is down 4 1/2 cents, and MIAX July Minneapolis wheat is down 0.0275 cents.

   CME GLOBEX RECAP: On Friday, July corn rose 1 cent, July soybeans rose 2 1/4
cents, and July KC wheat was down 5 cents. Corn, soybean, hard red winter
wheat, and spring wheat basis were steady on Friday, while soft red winter
wheat basis was weaker. The futures markets were quiet Friday with little fresh
news to trade. Wet weather over the Memorial Day holiday weekend, along with
wet-leaning forecasts, has the market bears in control. Though President Trump
said on Monday that negotiations with Iran are progressing, Iran vowed to
retaliate after the U.S. sank two Revolutionary Guard ships believed to be
laying mines in the Strait of Hormuz. Tuesday is set to be a quiet day for
reports, with export inspections delayed until 10 a.m. CDT. In the afternoon,
USDA will release the weekly Crop Progress report at 3 p.m. CDT, updating
planting and condition ratings for U.S. crops.

   OUTSIDE MARKETS: The previous close on Friday showed the Dow Jones
Industrial Average up 294.04 to 50,579.70 and the S&P 500 up 27.75 to 7,473.47.
The 10-Year Treasury yield ended at 4.558%. Early Tuesday, the June Dow Jones
Futures are up 227 points. European markets are mixed, with the spot futures of
London's FTSE 100 trading up 0.5%, the spot futures of Germany's DAX trading
down 0.73%, and the spot futures of France's CAC 40 Index trading down 0.89%.
Asian markets are lower with Japan's Nikkei 225 Index down 0.25% and China's
Shanghai Composite Index down 0.17%. The June Euro is up 0.003 at 1.165, and
the June U.S. Dollar Index is down 0.211 at 98.975.  The June 30-Year T-Bond is
up 1 3/32nds, while June gold is up $1.50 at $4,524.70, and July crude oil is
down $4.21 at $92.39. On China's Dalian Exchange, July corn was down 0.6% while
July soybeans were down 0.64%, September soybean meal was down 0.6%, and August
Malaysian Palm Oil was trading up 0.54%.