DTN Early Word Grains         03/16 07:43
   Soybeans Drop 30 cents on U.S. Threat Summit Delay with China

   May corn is down 3 cents per bushel, May soybeans are down 30 1/4 cents, May
KC wheat is down 3/4 cent, May Chicago wheat is down 5 cents, and MIAX May
Minneapolis wheat is down 0.0450 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: May corn is down 3 cents per bushel, May
soybeans are down 30 1/4 cents, May KC wheat is down 3/4 cent, May Chicago
wheat is down 5 cents, and MIAX May Minneapolis wheat is down 0.0450 cents.

   CME GLOBEX RECAP: On Friday, May corn closed up 4 3/4 cents, May soybeans
dropped by 2 cents, and May KC wheat closed up 16 1/2 cents. Corn, soft red
winter wheat, and spring wheat basis were weaker on Friday, while soybean and
hard red winter wheat basis were steady. Wheat propped up the corn market due
to increased weather concerns for the U.S. hard red winter crop. Higher
fertilizer prices, due to the war in Iran, have traders wondering if U.S.
farmers are leaning away from planting as much corn as expected. Soybean prices
were dealt a blow early Monday, falling 30 cents. At a trade meeting on Sunday,
China's trade negotiators said the country was open to purchasing U.S. poultry,
beef, and non-soybean row crops. Additionally, President Trump threatened to
delay his upcoming visit to China if the Asian giant doesn't help with getting
the Strait of Hormuz reopened. Reports for Monday include weekly grain Export
Inspections at 10 a.m. CDT.

   OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial
Average down 119.38 at 46,558.47 and the S&P 500 down 40.43 at 6,632.19. The
10-Year Treasury yield ended at 4.285%. Early Monday, the March Dow Jones
Futures are up 64 points. European markets are mixed, with the spot futures of
London's FTSE 100 trading up 0.05%, spot futures of Germany's DAX are trading
down 0.29%, and the spot futures of France's CAC 40 Index are down 0.56%. Asian
markets are lower, with Japan's Nikkei 225 Index down 0.13% and China's
Shanghai Composite Index down 0.26%.