DTN Early Word Grains         06/14 07:07
   Forecasts Send Grains Reeling Overnight

   December corn is down 28 cents, November soybeans are down 37 1/2 cents and
July KC wheat is down 20 1/2 cents.

Tregg Cronin
DTN Contributing Analyst

   Pre-6 a.m. Globex Prices: December corn is down 28 cents, November soybeans
are down 37 1/2 cents and July KC wheat is down 20 1/2 cents.

   CME Globex Recap: Global equity markets are mixed to higher to begin the
week while energy prices are continuing to rally. Spot crude oil futures are
over $71.00 per barrel overnight, the highest spot price for WTI since October
17, 2018. This should help commodity indices move to new highs for the month
with the Bloomberg Commodity Index near the highest levels since 2015. The
energy strength should keep upward pressure on inflation statistics. Grain
markets are sharply lower overnight as weather models flipped more favorably
over the weekend for the 6-10 and 8-14 day period. Grains will now be forced to
reconcile a more favorable forecast with areas which need improved weather
following a tough start to June.

   OUTSIDE MARKETS: Asian markets are mixed with Japan's Nikkei 225 index up
0.74% and China's Shanghai Composite Index down 0.58%. European markets are
higher with the spot futures of the London FTSE 100 trading up 0.46%, spot
futures of Germany's DAX trading up 0.25% and spot futures of France's CAC
Index trading up 0.35%. The September euro is up $0.0012 at $1.2114. The
September U.S. Dollar Index is down 0.04 at 90.52. The September 30-year T-bond
is up 1/16nds, while August gold is down $21.0 at $1,858.60 and July crude oil
is up $0.56 at $71.47. China's markets were closed for holiday Monday and will
be back Tuesday. July common wheat on China's Zhengzhou exchange was unchanged.
August Malaysian palm oil is trading down 7.8%.