DTN Early Word Grains         04/10 05:52
   Row-Crop Markets Trade Crop Weather, Weekend Ceasefire Talks

   May corn is down 1 cent per bushel, May soybeans are up 1/4 cent, May KC
wheat is down 1 cent, May Chicago wheat is down 2 1/2 cents, and MIAX May
Minneapolis wheat is up 0.0075 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: May corn is down 1 cent per bushel, May
soybeans are up 1/4 cent, May KC wheat is down 1 cent, May Chicago wheat is
down 2 1/2 cents, and MIAX May Minneapolis wheat is up 0.0075 cents.

   CME GLOBEX RECAP: May corn fell 3 1/4 cents, May soybeans rose 3 1/4 cents,
and May KC wheat declined 4 3/4 cents. Soybean and hard red winter wheat basis
were stronger Thursday, while corn and soft red winter wheat basis were steady,
and spring wheat basis was weaker. Thursday's markets traded the USDA WASDE
Report, which left most estimates unchanged for U.S. and world ending stocks
and production. In general, the data leaned neutral to bearish. The Middle East
ceasefire is proving shaky, sending crude oil prices back above $100 per
gallon. However, the farm markets ignored the conflict. Soybean oil is up over
40% on the year, and that product is supporting the soybean market. On Friday,
traders will eye the meeting in Pakistan between U.S. and Iranian negotiators,
which will focus on a path to end the conflict. As of Thursday, Iran was
letting very few ships through the Strait of Hormuz and reportedly charging
$2.0 million to those that transit the chokepoint. After the close of the
markets, USDA will release a series of follow-up reports to Thursday's WASDE,
including updates to the Feed Grains and wheat databases at 1 p.m. CDT. At 2:30
p.m. CDT, the CFTC will round out the week with the Commitments of Traders
report, updating positions as of Tuesday, April 7.

   OUTSIDE MARKETS: The previous close on Thursday showed the Dow Jones
Industrial Average up 275.88 at 48,185.80 and the S&P 500 up 41.85 at 6,824.66.
The 10-Year Treasury yield ended at 4.293%. Early Friday, the June Dow Jones
Futures are down 59 points. European markets are higher, with the spot futures
of London's FTSE 100 trading up 0.57%, spot futures of Germany's DAX are
trading up 0.63%, and the spot futures of France's CAC 40 Index are up 0.53%.
Asian markets are higher, with Japan's Nikkei 225 Index up 1.84% and China's
Shanghai Composite Index up 0.51%.