DTN Early Word Grains         03/24 05:49
   Grain Markets Lower as Traders Worry About Key USDA Reports, Potential
Tariffs

   May corn is down 1 3/4 cents per bushel, May soybeans are down 1/2 cent, May
KC wheat is down 6 cents, May Chicago wheat is down 5 cents and May Minneapolis
wheat is down 2 1/2 cents.

Kent Beadle, DTN Contributing Analyst

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

   CME GLOBEX RECAP: World equity markets are mostly higher on Monday morning
after a slightly higher U.S. session on Friday where the Dow broke its two-week
losing streak and the S&P 500 broke its four-week losing streak. The Wall
Street Journal this morning reports that the tariffs that the White House plans
to announce on April 2 will be more targeted and more focused on "reciprocal"
tariffs and there will be less focus on "sector" tariffs such as automobiles.
Grain markets are not yet convinced as the administration did not comment this
weekend on the fate of Mexico and Canada.

   This week brings a lot of new data that includes the S&P flash PMI's and
Case-Shiller home index on Monday, consumer confidence and new home sales on
Tuesday. Wednesday brings durable goods, while Thursday brings initial jobless
claims, 4th quarter GDP, retail and wholesale inventories, and pending home
sales. Finally on Friday, we get personal income, personal spending, and the
PCE index. The PCE index is the favored measure of inflation by the Fed and is
likely the most important data point next week.

   OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial
Average up 32.03 at 41,985.35 and the S&P 500 up 4.67 at 5,667.56. The 10-Year
Treasury yield ended at 4.252%. Early Monday, the June Dow Jones Futures are up
354 points. European markets are higher with the spot futures of London's FTSE
100 trading up 0.01%, spot futures of Germany's DAX is trading up 0.29% and the
spot futures of France's CAC 40 Index down 0.08%. Asian markets are mixed with
Japan's Nikkei 225 Index down 0.18% and China's Shanghai Composite Index up
0.15%.