DTN Early Word Grains         05/04 05:47
   This Week's Row-Crop Weather May Steer Price Direction

   July corn is up 1 1/2 cents per bushel, July soybeans are up 7 1/2 cents,
July KC wheat is down 2 1/4 cents, July Chicago wheat is up 1 3/4 cents, and
MIAX July Minneapolis wheat is down 0.0400 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: July corn is up 1 1/2 cents per bushel,
July soybeans are up 7 1/2 cents, July KC wheat is down 2 1/4 cents, July
Chicago wheat is up 1 3/4 cents, and MIAX July Minneapolis wheat is down 0.0400
cents.

   CME Globex Recap: On Friday, July corn rose 5 1/2 cents, July soybeans rose
7 3/4 cents, and July KC wheat rose 1 cent. Corn basis was steady, while
soybean, hard red winter, and soft red winter wheat basis levels were stronger
on Friday, and spring wheat basis was weaker. On Friday, corn and soybean
futures rose on technical support, while wheat fell amid profit-taking.
President Trump announced on Sunday that the U.S. will begin guiding ships
through the Strait of Hormuz, but few additional details have emerged as to the
extent of the plan. The U.S. and Iran have reportedly been in contact over the
weekend, but crude oil prices rose by more than 2% early Monday. USDA will
release weekly Export Inspections at 10 a.m. CDT on Monday morning. After the
close, USDA will release its Crop Progress report at 3 p.m. CDT, updating
traders on corn and soybean planting progress and winter wheat condition across
the U.S.

   OUTSIDE MARKETS: The previous close on Friday showed the Dow Jones
Industrial Average down 152.87 points at 49,499.27, and the S&P 500 up 21.11
points at 7,230.12. The 10-Year Treasury yield ended at 4.378%. Early Monday,
the June Dow Jones Futures are down 314 points. European markets are mixed:
spot futures of London's FTSE 100 are up 0.01%, spot futures of Germany's DAX
are down 0.64%, and spot futures of France's CAC 40 Index are down 1.33%. Asian
markets are mixed, with Japan's Nikkei 225 Index up 0.38% and China's Shanghai
Composite Index steady.