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DTN Early Word Grains         08/12 05:52
   Wheat Lower Ahead of Friday's USDA Reports, Row Crops Cautious

   December corn was up 1 cent, November soybeans were down 5 cents and
September KC wheat was down 10 cents.

Todd Hultman
DTN Lead Analyst

   PRE-6 a.m. GLOBEX PRICES: December corn was up 1 cent, November soybeans
were down 5 cents and September KC wheat was down 10 cents.

   CME GLOBEX RECAP: Early Friday, U.S. stocks on the Dow Jones Industrials are
trading higher, encouraged by overnight gains in Europe and Japan and also
encouraged by this week's lower than expected inflation data. A two-month drop
in crude oil prices was responsible for most of the easing, while Fed officials
show no sign of backing away from their more hawkish policies. USDA's WASDE and
Crop Production reports are due out at 11 a.m. CDT and will include new
estimates of row crop production as well as an update of this year's plantings.

   OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial
Average up 27.16 at 33,336.67 and the S&P 500 down 2.97 at 4,207.27 as the
10-Year Treasury yield ended at 2.89%, up from its lowest rate in over three
months. Early Friday, September Dow Jones futures are trading up 124 points.
Asian markets are mixed to higher with Japan's Nikkei 225 index up 2.62% and
China's Shanghai Composite Index down 0.15%. European markets are higher with
the spot futures of the London FTSE 100 trading up 0.52%, spot futures of
Germany's DAX trading up 0.62% and spot futures of France's CAC Index trading
up 0.47%. The September euro is down $0.0033 at $1.0317. The September U.S.
Dollar Index is up 0.25 at 105.25. The September 30-year T-bond is down
2/32nds, while August gold is down $3.70 at $1,803.50 and September crude oil
is up $0.13 at $94.47. On China's Dalian exchange, September corn was up 1.0%,
September soybeans were up 0.8%, September soybean meal was up 0.5% and
September soybean oil was up 0.9%. September Malaysian palm oil is trading up
4.3%.
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