DTN Early Word Grains         01/23 05:49
   Row-Crop Markets Consider Demand Strength, Crop Weather

   March corn is down 1/4 cent per bushel, March soybeans are up 2 1/4 cents,
March KC wheat is up 3 1/2 cents, March Chicago wheat is up 2 1/4 cents, and
MIAX March Minneapolis wheat is down 0.0225 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: March corn is down 1/4 cent per bushel,
March soybeans are up 2 1/4 cents, March KC wheat is up 3 1/2 cents, March
Chicago wheat is up 2 1/4 cents, and MIAX March Minneapolis wheat is down
0.0225 cents.

   CME GLOBEX RECAP: On Thursday, March corn closed up 2 1/4 cents, March
soybeans closed down 1/2 cent, and March KC wheat closed up 6 cents.
Profit-taking pressured the markets. Crude oil and diesel prices moved lower on
Thursday, pushing soybean oil lower. Corn, spring wheat, and hard red winter
wheat basis were steady Thursday, while soybean and soft red winter wheat basis
strengthened. Corn and soybean traders eye global crop weather for the rest of
January, while wheat traders are anticipating an upcoming snow/ice storm for
the U.S. winter wheat crop. USDA will lead off Friday at 7:30 a.m. CST with the
delayed release of export sales data for the week ending January 15. After the
close, USDA will release its January Cattle on Feed report at 2 p.m. CST. This
will be followed by the weekly CFTC Commitments of Traders report at 2:30 p.m.
CST to wrap up the week.

   OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial
Average up 306.78 at 49,384.01 and the S&P 500 up 37.73 at 6,913.35. The
10-Year Treasury yield ended at 4.249%. Early Friday, the March Dow Jones
Futures are down 105 points. European markets are lower, with the spot futures
of London's FTSE 100 trading down 0.12%, spot futures of Germany's DAX are
trading down 0.18%, and the spot futures of France's CAC 40 Index are down
0.49%. Asian markets are higher, with Japan's Nikkei 225 Index up 0.29% and
China's Shanghai Composite Index up 0.33%.