DTN Early Word Grains         08/24 05:48
   Corn Market Poised for a Rally on Lower Yield Estimates

   December corn is up 13 1/2 cents per bushel, November soybeans are down 2
cents, December KC wheat is up 9 cents, December Chicago wheat is up 10 3/4
cents, and MIAX December Minneapolis wheat is up 0.0575 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: December corn is up 13 1/2 cents per
bushel, November soybeans are down 2 cents, December KC wheat is up 9 cents,
December Chicago wheat is up 10 3/4 cents, and MIAX December Minneapolis wheat
is up 0.0575 cents.

   CME GLOBEX RECAP: On Friday, December corn rose 5 cents, November soybeans
rose 3 cents, and December KC wheat dropped 4 cents. Corn, hard red winter
wheat and soft red winter wheat basis was steady Friday, while soybean and
spring wheat basis was stronger. Friday's trade was considered quiet. Corn
stayed steady to higher for most of the session, while soybeans were little
changed and wheat gave up recent gains. On Saturday, trade negotiations between
the U.S. and Canada broke down. As a result, the U.S. is imposing a 50% tariff
on billions of dollars' worth of certain Canadian imports. Canada plans to levy
dollar-for-dollar retaliatory tariffs on the U.S. In the bigger picture for
agriculture, the trade spat may disrupt efforts to revise the USMCA. Meanwhile,
the U.S. plans to announce new economic sanctions on Iran. On Monday, USDA will
release its weekly Export Inspections update at 10 a.m. CDT. In the afternoon,
the weekly Crop Progress report at 3 p.m. CDT will give a look into crop
conditions heading into the final business week of August.

   OUTSIDE MARKETS: The previous close on Friday showed the Dow Jones
Industrial Average up 517.80 at 53,277.01 and the S&P 500 up 33.21 at 7,674.37.
The 10-Year Treasury yield ended at 4.738%. Early Monday, the September Dow
Jones Futures are down 21 points. European markets are higher, with the spot
futures of London's FTSE 100 trading up 0.21%, spot futures of Germany's DAX
trading up 0.06%, and the spot futures of France's CAC 40 Index down 0.02%.
Asian markets are lower, with Japan's Nikkei 225 Index down 0.74% and China's
Shanghai Composite Index down 0.59%.