DTN Early Word Grains         01/22 05:59
   Grain Selling Continues to Close Week

   March corn is down 4 1/4 cents per bushel, March soybeans are down 21 1/4
cents, and March KC wheat is down 6 cents.

Tregg Cronin
DTN Contributing Analyst

   Pre-6 a.m. Globex Prices: March corn is down 4 1/4 cents per bushel, March
soybeans are down 21 1/4 cents, and March KC wheat is down 6 cents.

   CME Globex Recap: Weaker equity markets around the globe overnight as
economic data pressured indices, especially in Europe. The eurozone composite
survey for purchasing managers of manufacturing and services came in at 47.5,
below forecasts and down from 49.1 in December with any reading below 50.0
denoting contraction. The data speaks to the lockdowns still being enacted
across the continent. In the U.S., the House of Representatives is expected to
pick up work on putting together legislation for President Biden's $1.9
trillion pandemic aid bill next week. Energy markets are sharply lower
overnight with 2.0% losses commonplace. The U.S. Dollar Index is quietly firmer
but mainly inside recent ranges. Grain markets are solidly lower overnight,
looking to end the week on a softer note. South American weather and crop
prospects turning higher have been at the heart of the selling this week. To
change the tenor of our markets, a change in weather is likely needed.

   OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial
Average down 12.37 at 31,176.01 and the S&P 500 up 1.22 at 3,851.85 while the
10-Year Treasury yield ended at 1.109%. Early Friday, the March DJIA futures
are down 216 points. Asian markets are lower with Japan's Nikkei 225 down
125.41 (-0.44%) and China's Shanghai Composite down 14.51 points (-0.4%).
European markets are lower with London's FTSE 100 down 41.01 points (-0.56%),
Germany's DAX down 103.61 points (-0.75%) and France's CAC 40 down 62.34 points
(-1.12%). The March Euro is up 0.002 at 1.220 and the March U.S. dollar index
is up 0.063 at 90.190. The March 30-Year T-Bond is up 11/32nds, while February
gold is down $9.90 at $1,856.00 and March crude oil is down $1.14 at $51.99.
Soybeans on China's Dalian Exchange were down 0.5% while soybean meal was down
0.99% and corn was down 1.02%.