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DTN Early Word Grains         09/17 05:56
   Grains Lower as Crude Enthusiasm Fades

   December corn is down 2 3/4 cents per bushel, November soybeans are down 2
1/2 cents, and December K.C. wheat is down 2 1/2 cents.

By Tregg Cronin
DTN Contributing Analyst

6:00 a.m. CME Globex:   December corn is down 2 3/4 cents per bushel, November
soybeans are down 2 1/2 cents, and December K.C. wheat is down 2 1/2 cents.

CME Globex Recap:   After the incredible volatility in energy markets to begin
the week, markets are much more subdued on Tuesday as crude oil gives back over
1.0% of its Monday rally. Helping ease concerns were comments from President
Trump in which he said he did not want to go to war with Iran on Saudi Arabia's
behalf. In addition, Saudi Arabia made it seem as though some of the damaged
production could be back online relatively soon. Elsewhere, President Trump
announced an "initial" deal on trade barriers with Japan on Monday, but the
chief executive of the U.S. Chamber of Commerce expressed doubt on the prospect
of an interim trade deal with China. Grain markets are weaker across the board,
giving back the crude-inspired strength from Monday as beneficial finishing
weather looks to stay with the Midwest through the end of September. Delays to
North American wheat harvest remain a concern but not one spurring covering by
the record managed fund short just yet. Row crop harvest has begun in the
Midwest but this should be one of the more drawn out affairs in recent memory.

OUTSIDE MARKETS:   Previous closes Monday showed the Dow Jones Industrial
Average down 142.70 at 27,076.82 and the S&P 500 down 9.43 at 3,007.39 while
the 10-Year Treasury yield ended at 1.841%. Early Tuesday, the September DJIA
futures are down 24 points. Asian markets are mixed with Japan's Nikkei 225 up
13.03 (0.06%) and China's Shanghai Composite down 52.64 points (-1.74%).
European markets are mixed with London's FTSE 100 up 15.2 points (0.21%),
Germany's DAX down 17.6 points (-0.14%) and France's CAC 40 up 6.31 points
(0.11%). The September Euro is down 0.006 at 1.100 and the December U.S. dollar
index is up 0.015 at 98.190. The December 30-Year T-Bond is up 10/32nds, while
December gold is down $4.70 at $1,506.80 and October crude oil is down $0.78 at
$62.12. Soybeans on China's Dalian Exchange were up 0.64% while soybean meal
was up 0.28%.
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