DTN Early Word Grains         06/12 05:56
   USDA Data Reaffirms Bearish Bias in Row-Crop Markets

   July corn is down 1 3/4 cents per bushel, July soybeans are down 2 1/4
cents, July KC wheat is down 3 1/4 cents, July Chicago wheat is down 4 1/4
cents, and MIAX September Minneapolis wheat is down 0.0225 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: July corn is down 1 3/4 cents per bushel,
July soybeans are down 2 1/4 cents, July KC wheat is down 3 1/4 cents, July
Chicago wheat is down 4 1/4 cents, and MIAX September Minneapolis wheat is down
0.0225 cents.

   CME GLOBEX RECAP: On Thursday, July corn dropped 7 1/4 cents, July soybeans
dropped 8 cents, and July KC wheat was up 4 1/4 cents. Soybean and soft red
winter wheat basis were stronger on Thursday, while corn, hard red winter
wheat, and spring wheat basis were steady. Corn and soybean prices moved lower
on Thursday from bearish data released in the USDA's June WASDE and Crop
Production Reports. Sluggish weekly export sales for the first week of June
pressured corn and soybeans. Additionally, energy markets dropped after
President Trump canceled strikes on Iran amid a peace deal reportedly just days
away. USDA's monthly data estimated the smallest U.S. wheat crop since 1970.
That supported the wheat market on Thursday. Traders will shift focus from the
USDA reports to crop weather and any developments in the Middle East.

   OUTSIDE MARKETS: The previous close on Thursday showed the Dow Jones
Industrial Average up 929.97 at 50,848.75 and the S&P 500 up 127.31 at
7,394.30. The 10-Year Treasury yield ended at 4.463%. Early Friday, the June
Dow Jones Futures are up 392 points. European markets are higher, with the spot
futures of London's FTSE 100 trading up 1.17%, spot futures of Germany's DAX
are trading up 1.82%, and the spot futures of France's CAC 40 Index are up
2.07%. Asian markets are higher, with Japan's Nikkei 225 Index up 2.81% and
China's Shanghai Composite Index up 1.12%.