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DTN Early Word Grains         08/08 05:54
   Wheat Leads a Lower Start to the Week

   December corn is down 6 3/4 cents per bushel, November soybeans are down 2
3/4 cents, and September KC wheat is down 12 cents.

Tregg Cronin
DTN Contributing Analyst

   PRE-6 a.m. GLOBEX PRICES: December corn is down 6 3/4 cents per bushel,
November soybeans are down 2 3/4 cents, and September KC wheat is down 12 cents.

   CME GLOBEX RECAP: Higher equity trade overnight with U.S. futures pointing
towards a higher open on Wall Street Monday morning. Strong jobs data Friday is
buoying stocks ahead of more earnings reports as well as important inflation
data later in the week. The Consumer Price Index is expected to show easing
prices from a month earlier which would be congruent with the weakness in many
commodity markets and base materials over the last 60 days. Energy markets are
weak overnight with spot crude oil trading below $88.00 per barrel and at
levels not seen since before the Russian invasion. The U.S. Dollar Index is
softer overnight but has maintained long-term uptrends. Metals are mixed to
higher overnight with gold and silver up while copper posts small losses. Grain
markets are under pressure to start the weak with selling led by wheat
contracts. Corn and soybeans are still very much about supply, but wheat is
shifting its focus to demand which is not robust for the United States

   OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial
Average up 76.65 at 32,803.47 and the S&P 500 down 6.75 at 4,151.94 while the
10-Year Treasury yield ended at 2.84%. Early Monday, the September DJIA futures
are up 88 points. Asian markets are higher with Japan's Nikkei 225 up 73.37
(0.26%) and China's Shanghai Composite up 9.91 points (0.31%). European markets
are higher with London's FTSE 100 up 22.42 points (0.3%), Germany's DAX up
60.91 points (0.45%) and France's CAC 40 up 43.16 points (0.77%). The September
Euro is up 0.001 at 1.020 and the September U.S. Dollar Index is down 0.150 at
106.340. The September 30-Year T-Bond is up 20/32nds, while December gold is up
$2.00 at $1,793.20 and September crude oil is down $1.06 at $87.95. Corn on
China's Dalian Exchange was up 0.15% while soybeans were up 0.33% and soybean
meal was down 0.87%.
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