DTN Early Word Grains         04/23 05:46
   April Showers Become Key Trade Fundamental for Row-Crops

   May corn is up 1 3/4 cents per bushel, May soybeans are up 1 1/2 cents, July
KC wheat is up 9 1/2 cents, July Chicago wheat is up 6 1/2 cents, and MIAX July
Minneapolis wheat is up 0.0300 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: May corn is up 1 3/4 cents per bushel, May
soybeans are up 1 1/2 cents, July KC wheat is up 9 1/2 cents, July Chicago
wheat is up 6 1/2 cents, and MIAX July Minneapolis wheat is up 0.0300 cents.

   CME Globex Recap: On Wednesday, May corn rose 1/2 of a cent, May soybeans
declined 10 cents, and May KC wheat declined 5 1/2 cents. Soybean, corn, and
soft red winter wheat basis levels were stronger on Wednesday, while hard red
winter wheat and spring wheat basis levels were steady. The traders weighed the
optimism that peace talks would resume in the next few days against the
crop-damaging weather for winter wheat and Midwest rain that was slowing
planting. Soybeans saw bearish momentum increase through the session after
falling to overcome chart resistance towards the top end of the past month's
price range. On the war front, the U.S. has extended the cease-fire. However,
Iranian leaders continue to resist meeting the U.S. demands for a peace
resolution. That said, energy markets remain elevated, underpinning commodity
markets. USDA will release its Weekly Export Sales report at 7:30 a.m. CDT
Thursday morning.

   OUTSIDE MARKETS: Wednesday's previous close showed the Dow Jones Industrial
Average up 340.65 to 49,490.03 and the S&P 500 up 73.89 to 7,137.90. The
10-Year Treasury yield ended at 4.294%. Early Thursday, the June Dow Jones
Futures are down 378 points. European markets are lower, with spot futures of
London's FTSE 100 down 0.94%, spot futures of Germany's DAX down 0.76%, and
spot futures of France's CAC 40 Index down 0.15%. Asian markets are lower, with
Japan's Nikkei 225 Index down 0.75% and China's Shanghai Composite Index down
0.32%.