DTN Early Word Grains         09/19 05:58
    Grain Markets Lower as Correction in Wheat Continues

   December corn is down 2 3/4 cents per bushel, November soybeans are down 5
1/4 cents, December KC wheat is down 7 1/4 cents, December Chicago wheat is
down 8 cents and December Minneapolis wheat is down 6 cents.

Kent Beadle, DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: December corn is down 2 3/4 cents per
bushel, November soybeans are down 5 1/4 cents, December KC wheat is down 7 1/4
cents, December Chicago wheat is down 8 cents and December Minneapolis wheat is
down 6 cents.

   CME GLOBEX RECAP: World equity markets are higher Thursday morning, reacting
positively to the 50-basis point cut in interest rates announced on Wednesday
by the U.S. Federal Reserve. In the aftermath of the rate cut and the press
conference by Fed Chair Powell, U.S. stocks initially rallied but then sold off
posting a slightly lower close, potentially indicating that the 50-basis point
cut was priced into the market. As markets on Thursday have opened higher
around the world, it seems as if the positive benefits of lower U.S. interest
rates are driving positive sentiment with all world stock markets trading
higher.

   Wednesday's economic data was positive, with both housing starts and
building permits above trade estimates. This adds to positive data from Tuesday
and seems to confirm that a "soft landing" is still a real possibility.

   OUTSIDE MARKETS:

   Previous closes Wednesday showed the Dow Jones Industrial Average down
103.08 at 41,503.10 and the S&P 500 down 16.32 at 5,618.26, The 10-Year
Treasury yield ended at 3.685%. Early Thursday, the December Dow Jones Futures
are up 497 points. European markets are higher with the spot futures of
London's FTSE 100 trading up 1.32%, spot futures of Germany's DAX is trading up
1.43% and the spot futures of France's CAC 40 Index up 2.01%. Asian markets are
higher with Japan's Nikkei 225 Index up 2.13% and China's Shanghai Composite
Index up 0.69%.