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DTN Early Word Grains         07/18 05:42
   Grain Markets Lower on Weather, Crop Conditions

   December corn is down 2 1/2 cents per bushel, November soybeans are down 6
3/4 cents, September KC wheat is down 1 1/2 cents, September Chicago wheat is
down 1/4 cent and September Minneapolis wheat is up 2 cents.

Kent Beadle, DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: December corn is down 2 1/2 cents per
bushel, November soybeans are down 6 3/4 cents, September KC wheat is down 1
1/2 cents, September Chicago wheat is down 1/4 cent and September Minneapolis
wheat is up 2 cents.

   CME GLOBEX RECAP: World equity markets are lower Thursday morning, after a
choppy Wednesday in the U.S. where the Dow closed at another new lifetime high
while the S&P 500 fell by nearly 1.4%. There is rotation occurring in the stock
market, with markets that were previously depressed gaining favor and the
recently high-flying stocks being sold. This is due to the idea that the
economy is still likely to have a soft landing and that the strong economy and
lower interest rates will likely help all the stocks, not just the few stocks
that have driven equity gains for most of 2024.

   Wednesday's economic data was positive, with housing starts, building
permits, industrial production, and capacity utilization all posting results
that were slightly better than trade expectations. Thursday morning, we will
get the weekly jobless claims, the Philli Fed manufacturing survey results, and
the U.S. leading economic indicators.

   OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial
Average up 243.60 at 41,198.08 and the S&P 500 down 78.93 at 5,588.27, The
10-Year Treasury yield ended at 4.15%. Early Thursday, the September Dow Jones
Futures are down 72 points. European markets are higher with the spot futures
of London's FTSE 100 trading up 0.59%, spot futures of Germany's DAX is trading
up 0.09% and the spot futures of France's CAC 40 Index up 0.55%. Asian markets
are mixed with Japan's Nikkei 225 Index down 2.36% and China's Shanghai
Composite Index up 0.48%.
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