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DTN Early Word Grains         04/03 05:55
   Grains Higher, Soy Complex Lower to Finish Week

   May corn is up 3 3/4 cents per bushel, May soybeans are down 1 1/4 cents,
and May KC wheat is up 10 cents.

By Tregg Cronin
DTN Contributing Analyst

6:00 a.m. CME Globex:   May corn is up 3 3/4 cents per bushel, May soybeans are
down 1 1/4 cents, and May KC wheat is up 10 cents.

CME Globex Recap:   Equity markets are mixed to lower overnight while energy
markets enjoy another strong performance. Traders were encouraged by a possible
agreement between Saudi Arabia and Russia to cut oil production and stabilize
energy markets around the globe. The idea was floated by President Trump on
social media after he had talks with the leaders of both countries, although
details about any agreement were lacking. Despite this, spot crude prices are
36% off the lows while Brent crude oil is back over $32.00 per barrel. There is
still a massive demand problem which supply cuts alone will not balance,
however. The March employment situation report will be a big focus later Friday
morning after record unemployment claims were filed last week. Grain prices are
mostly higher, led by a strong performance overnight in wheat markets following
a difficult week of trade. Energy prices were a big part of the ag commodity
selloff, and they will be a big part of any recovery. We are drawing closer to
spring planting in the U.S., shifting the focus more heavily to Midwest
weather, a welcome sight for all participants.

OUTSIDE MARKETS:   Previous closes on Thursday showed the Dow Jones Industrial
Average up 469.93 at 21,413.44 and the S&P 500 up 56.40 at 2,470.50 while the
10-Year Treasury yield ended at 0.627%. Early Friday, the June DJIA futures are
down 234 points. Asian markets are mixed with Japan's Nikkei 225 up 1.47
(0.01%) and China's Shanghai Composite down 16.65 points (-0.6%). European
markets are higher with London's FTSE 100 down 67.53 points (-1.23%), Germany's
DAX down 49.51 points (-0.52%) and France's CAC 40 down 45.89 points (-1.09%).
The June Euro is down 0.004 at 1.080 and the June U.S. dollar index is up 0.534
at 100.805. The June 30-Year T-Bond is up 13/32nds, while June gold is down
$6.40 at $1,631.30 and May crude oil is up $1.03 at $26.35. Soybeans on China's
Dalian Exchange were down 0.35% while soybean meal was down 1.45%.
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