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DTN Early Word Grains         08/02 05:58
   Winter Wheat Gains Stand Alone Overnight

   December corn is down 1 3/4 cents per bushel, November soybeans are down 7
cents, and September KC wheat is up 13 1/2 cents.

Tregg Cronin
DTN Contributing Analyst

   Pre-6 a.m. Globex Prices: December corn is down 1 3/4 cents per bushel,
November soybeans are down 7 cents, and September KC wheat is up 13 1/2 cents.

   CME Globex Recap: Stronger equity markets overnight with U.S. futures
pointed toward a higher open later Monday morning. Focus this week for
financial markets will be on further measures taken to combat the Delta variant
of the coronavirus, the $550 billion bipartisan infrastructure bill and Q2
earnings season. The U.S. Dollar Index is weaker overnight, looking to settle
lower for the fifth session out of the last six. Several long-term moving
averages are congregating between 91.35-91.55 which could offer support on any
further setback. That said, there isn't much to keep the Index from trading
back down to the late May lows if those levels are breached. Energy markets are
weaker overnight with spot crude oil futures off 1.0%. Grains are mixed
overnight with row crops and soy products lower while winter wheat contracts
rally double digits as Kansas City wheat moves back toward the 7.00 mark. With
the flip of the calendar to August, the focus becomes much more about weather
for developing soybeans.

   OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial
Average down 149.06 at 34,935.47 and the S&P 500 down 23.89 at 4,419.15 while
the 10-Year Treasury yield ended at 1.239%. Early Monday, the September DJIA
futures are up 184 points. Asian markets are higher with Japan's Nikkei 225 up
497.43 (1.82%) and China's Shanghai Composite up 66.93 points (1.97%). European
markets are higher with London's FTSE 100 up 66.93 points (0.95%), Germany's
DAX up 45.67 points (0.29%) and France's CAC 40 up 53.93 points (0.82%). The
September Euro is up 0.003 at 1.190 and the September U.S. dollar index is down
0.203 at 91.985.  The September 30-Year T-Bond is down 3/32nds, while December
gold is down $7.20 at $1,810.00 and September crude oil is down $0.83 at
$73.12. Soybeans on China's Dalian Exchange were down 1.45% while soybean meal
was down -0.61%.
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