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DTN Early Word Grains         07/22 05:57
   It's Raining Again...

   December corn was 2 cents lower, November soybeans were 19 cents lower, and
September Chicago wheat was 2 cents lower.

By Darin Newsom
DTN Senior Analyst

6:00 a.m. CME Globex:   December corn was 2 cents lower, November soybeans were
19 cents lower, and September Chicago wheat was 2 cents lower.

CME Globex Recap:   More rain over the 3-I states overnight into Friday morning
had grains on the defensive -- again -- with soybeans posting strong
double-digit losses. Outside markets were mostly lower with metals falling and
energies mixed. The U.S. dollar index and DJIA futures were both higher early.

OUTSIDE MARKETS:   The Dow Jones Industrial Average closed 77.80 points lower
at 18,517.23, the NASDAQ Composite lost 16.03 points to 5,073.90 and the S&P
500 fell 7.85 points to close at 2,165.17 Thursday. DJIA futures were 28 points
higher overnight. Asian markets were mostly lower with Japan's Nikkei down
182.97 points (1.1%) while China's Shanghai Composite lost 26.19 points (0.9%).
European markets were also mostly lower with London's FTSE 100 up 9.89 points
(0.1%), Germany's DAX was 21.21 points (0.2%) lower, and France's CAC 40 lost
2.72 points. The U.S. dollar index rallied 0.144 to 97.114. Crude oil dipped
$0.07 to $44.68 while Brent crude gained $0.06 to $46.26. August gold was $9.00
lower at $1,322.00. China's Dalian soybean and Malaysian palm oil futures were
both lower overnight.
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