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DTN Early Word Grains         07/15 06:05
   Grains Mixed on China Buying, Weather

   December corn is down 3/4 cent per bushel, November soybeans are up 4 1/4
cents, and September KC wheat is up 2 1/2 cents.

Tregg Cronin
DTN Contributing Analyst

   Pre-6 a.m. Globex Prices:  December corn is down 3/4 cent per bushel,
November soybeans are up 4 1/4 cents, and September KC wheat is up 2 1/2 cents.

   CME Globex Recap: Equities are higher around the globe overnight with U.S.
futures pointed toward gains of over 1.0% later Wednesday morning. Lots of
articles touting promise from several experimental COVID-19 vaccines which
could get the global economy back on its feet sooner rather than later. To be
clear, a widely available vaccine is still months away at the very earliest.
Energy markets are firmer overnight with crude oil maintaining its very shallow
upward trajectory. The U.S. Dollar Index is lower for the fourth session in a
row and closing in on the mid-June lows which would give way to the lowest
levels since early March. Precious metals are mixed overnight. Grains are mixed
overnight with corn lower while soybeans and wheat add gains. The buying of
late by China has been encouraging but hasn't been enough to overcome the more
favorable weather forecasts for both major models. Yield ideas from the USDA on
the July WASDE do not look far-fetched like they did at the end of June and
beginning of July should benign weather continue into August.

   OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial
Average up 556.79 at 26,642.59 and the S&P 500 up 42.30 at 3,155.22 while the
10-Year Treasury yield ended at 0.615%. Early Wednesday, the September DJIA
futures are up 318 points. Asian markets are higher with Japan's Nikkei 225 up
358.49 (1.59%) and China's Shanghai Composite down 53.31 points (-1.56%).
European markets are higher with London's FTSE 100 up 69.77 points (1.13%),
Germany's DAX up 164.74 points (1.3%) and France's CAC 40 up 83.52 points
(1.67%). The September Euro is up 0.004 at 1.140 and the September U.S. dollar
index is down 0.307 at 95.900. The September 30-Year T-Bond is down 18/32nds,
while August gold is down $2.30 at $1,811.10 and August crude oil is up $0.48
at $40.77. Soybeans on China's Dalian Exchange were up 0.87% while soybean meal
was up 0.1%.
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