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DTN Early Word Grains         06/02 05:55
   Row Crops Higher, Wheat Lower as Harvest Looms

   July corn is up 3/4 cent per bushel, July soybeans are up 2 1/2 cents, and
July KC wheat is down 6 3/4 cents.

Tregg Cronin
DTN Contributing Analyst

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

   CME Globex Recap: Equities are higher around the globe overnight, led by
sharp gains in Japan and Germany with the U.S. staring at a higher start
Tuesday morning. The resilience of equity prices is almost unbelievable
considering the downtrodden economic data related to the global pandemic, major
rioting in U.S. cities and the flaring trade tension between the U.S. and
China. The commitment by central banks around the globe to do what is necessary
to support the global economy is certainly elevating equity markets. Higher
energy markets with both WTI and Brent crude up nearly 2.5%. RBOB and heating
oil are up 3-4%. Mostly quiet trade in both fixed income and precious metals
overnight. Grain markets are mixed with row crops higher while wheat markets
stare at a second straight session of meaningful losses. Wheat seems to be
feeling the looming harvest in the U.S., Europe and the Black Sea with time
running out to cut any more bushels due to inclement weather. Row crop markets
are still in the first or second inning of the growing season, and the
near-record short position held by managed funds in corn should underpin prices.

   OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial
Average up 91.91 at 25,475.02 and the S&P 500 up 11.42 at 3,044.31 while the
10-Year Treasury yield ended at 0.662%. Early Tuesday, the June DJIA futures
are up 131 points. Asian markets are higher with Japan's Nikkei 225 up 263.22
(1.19%) and China's Shanghai Composite up 5.97 points (0.2%). European markets
are higher with London's FTSE 100 up 49.55 points (0.8%), Germany's DAX up
386.86 points (3.34%) and France's CAC 40 up 85.34 points (1.79%). The June
Euro is up 0.005 at 1.120 and the June U.S. dollar index is down 0.315 at
97.505. The September 30-Year T-Bond is down 9/32nds, while August gold is up
$0.40 at $1,750.70 and July crude oil is up $0.99 at $36.43. Soybeans on
China's Dalian Exchange were down 0.77% while soybean meal was down 0.11%.
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