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DTN Early Word Grains         07/28 05:53
   Grains Mixed at Midweek

   December corn is down 2 1/4 cents per bushel, November soybeans are down 6
1/2 cents, and September KC wheat is up 9 cents.

Tregg Cronin
DTN Contributing Analyst

   Pre-6 a.m. Globex Prices: December corn is down 2 1/4 cents per bushel,
November soybeans are down 6 1/2 cents, and September KC wheat is up 9 cents.

   CME Globex Recap: Mixed equity trade overnight with U.S. futures mostly flat
ahead of the conclusion of the two-day FOMC meeting. Experts think Fed Chair
Powell will mostly use his post-meeting conference to try to keep markets calm,
especially against a backdrop of rising Delta variant cases and the recent
Chinese regulatory crackdown. It will be difficult for Chairman Powell to
ignore rising inflation indicators, however, or to continue to dismiss them as
transitory. Energy markets are higher with crude oil continuing to grind
higher. The U.S. Dollar Index is higher, trying to end a two-day losing streak.
Metals markets are higher, being led by silver which is up 0.80%. Grain markets
are mixed overnight with weaker corn prices and a lower soy complex while wheat
markets are solidly higher overnight. It will be interesting to see if wheat
can hold its double digit price gains into the day session.

   OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial
Average down 85.79 at 35,058.52 and the S&P 500 down 20.84 at 4,422.30 while
the 10-Year Treasury yield ended at 1.234%. Early Wednesday, the September DJIA
futures are down 9 points. Asian markets are lower with Japan's Nikkei 225 down
388.56 (-1.39%) and China's Shanghai Composite down 19.59 points (-0.58%).
European markets are higher with London's FTSE 100 up 12.43 points (0.18%),
Germany's DAX up 41.42 points (0.27%) and France's CAC 40 up 50.21 points
(0.77%). The September Euro is down 0.000 at 1.180 and the September U.S.
dollar index is up 0.009 at 92.445. The September 30-Year T-Bond is down
15/32nds, while August gold is up $0.20 at $1,800.00 and September crude oil is
up $0.81 at $72.46. Soybeans on China's Dalian Exchange were up 0.87% while
soybean meal was up 1.73% and corn was up 0.31%.
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