DTN Early Word Grains         07/08 05:46
   Row-Crop Markets, Crude Oil Higher Amid Middle East Uncertainty

   December corn is up 1/4 cent per bushel, November soybeans are up 3 3/4
cents, September KC wheat is up 9 cents, September Chicago wheat is up 5 1/2
cents, and MIAX September Minneapolis wheat is up 0.0700 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: December corn is up 1/4 cent per bushel,
November soybeans are up 3 3/4 cents, September KC wheat is up 9 cents,
September Chicago wheat is up 5 1/2 cents, and MIAX September Minneapolis wheat
is up 0.0700 cents.

   CME GLOBEX RECAP: On Tuesday, September corn rose 5 1/2 cents, November
soybeans rose 5 1/2 cents, and September KC wheat rose 3 cents. Corn basis was
weaker Tuesday, while hard red winter, soft red winter wheat, and hard red
spring wheat bases were stronger, and soybean basis was steady. Market strength
came from crop weather concerns in the U.S. and Europe. Additionally, multiple
media reported that China booked 300,000 metric tons (mt) of U.S. soybeans for
loading in September and October. Those sales have not been confirmed. It's
safe to say that daily and weekly forecasts will be the primary driver of
prices over the next few weeks. A heat dome is expected to arrive in the Corn
Belt this weekend, perhaps lasting a short period. Outside markets are starting
to be supportive, as the U.S. launched strikes on Iran late Tuesday in
retaliation for Iran's attacks in Hormuz. Crude oil rose early Wednesday after
the U.S. ended the ceasefire with Iran and revoked a waiver that allowed Iran
to sell oil. On Wednesday, the Energy Information Administration will release
the weekly Petroleum Status report at 9:30 a.m. CDT, which will include last
week's ethanol production.

   OUTSIDE MARKETS: The previous close on Tuesday showed the Dow Jones
Industrial Average down 130.76 points to 52,925.15 and the S&P 500 down 33.58
points to 7,503.85. The 10-Year Treasury yield ended at 4.529%. Early
Wednesday, the September Dow Jones Futures are down 704 points. European
markets are lower, with the spot futures of London's FTSE 100 trading down
1.79%, the spot futures of Germany's DAX trading down 2.52%, and the spot
futures of France's CAC 40 Index trading down 2.27%. Asian markets are lower,
with Japan's Nikkei 225 Index down 2.11% and China's Shanghai Composite Index
down 0.49%.