DTN Early Word Grains         01/20 05:49
   Row-Crop Markets Eye South America, U.S. Crop Weather

   March corn is down 1 3/4 cents per bushel, March soybeans are down 3 1/4
cents, March KC wheat is down 3/4 cent, March Chicago wheat is down 2 1/2
cents, and MIAX March Minneapolis wheat is up 0.0025 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: March corn is down 1 3/4 cents per bushel,
March soybeans are down 3 1/4 cents, March KC wheat is down 3/4 cent, March
Chicago wheat is down 2 1/2 cents, and MIAX March Minneapolis wheat is up
0.0025 cents.

   CME GLOBEX RECAP: On Monday, the CME Group's commodities markets were closed
due to the Martin Luther King Jr holiday. On Friday, corn, spring wheat,
soybean, and hard red winter wheat basis were steady, while soft red winter
wheat basis was stronger. It will be a shortened trading week. Traders will eye
technical pressure in the soybean market after three straight positive closes
to finish last week. All eyes will be on winter wheat, with cold temperatures
through the weekend potentially causing some crop issues, and with more freeze
risk ahead for later this week. Tuesday will be a fairly quiet day for reports,
with the weekly Grain Export Inspections report set for a 10 a.m. CST release
following Monday's holiday. USDA will also release its monthly Chickens and
Eggs report at 2 p.m. CST.

   OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial
Average down 83.11 at 49,359.33 and the S&P 500 down 4.46 at 6,940.01. The
10-Year Treasury yield ended at 4.231%. Early Tuesday, the March Dow Jones
Futures are down 722 points. European markets are lower, with the spot futures
of London's FTSE 100 trading down 1.13%, spot futures of Germany's DAX are
trading down 1.55%, and the spot futures of France's CAC 40 Index are down
1.36%. Asian markets are lower, with Japan's Nikkei 225 Index down 1.11% and
China's Shanghai Composite Index down 0.01%.