DTN Early Word Grains         04/24 05:47
   Wheat Bulls Feast on Weak Crop Conditions

   July corn is up 2 1/2 cents per bushel, July soybeans are up 2 1/2 cents,
July KC wheat is up 3/4 cent, July Chicago wheat is up 3 1/2 cents, and MIAX
July Minneapolis wheat is down 0.0100 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: July corn is up 2 1/2 cents per bushel,
July soybeans are up 2 1/2 cents, July KC wheat is up 3/4 cent, July Chicago
wheat is up 3 1/2 cents, and MIAX July Minneapolis wheat is down 0.0100 cents.

   CME Globex Recap: On Thursday, May corn rose 1 1/4 cents, May soybeans
declined 4 3/4 cents, and May KC wheat rose 29 cents. Soybean, corn, spring
wheat, and soft red winter wheat basis levels were steady on Thursday, while
hard red winter wheat basis was stronger. The weather is volatile for the wheat
crop, heightening concern about the U.S. wheat market. That sparked the
double-digit rally in wheat on Thursday. Strong weekly export sales trimmed
losses for soybeans, while corn was stuck between a higher wheat market and
lower soybean prices. On Thursday, President Trump said the cease-fire between
Israel and Lebanon will be extended by three weeks. Risk-on, risk-off trades
are hanging around the market, as tensions have heightened and loosened all
week. Friday afternoon, the CFTC will release its weekly Commitments of Traders
report, which updates positions as of Tuesday, April 21.

   OUTSIDE MARKETS: The previous close on Thursday showed the Dow Jones
Industrial Average down 179.71 points at 49,310.32, and the S&P 500 down 29.50
points at 7,108.40. The 10-Year Treasury yield ended at 4.323%. Early Friday,
the June Dow Jones Futures are down 146 points. European markets are lower,
with spot futures of London's FTSE 100 down 0.77%, spot futures of Germany's
DAX down 0.45%, and spot futures of France's CAC 40 Index down 1.04%. Asian
markets are mixed, with Japan's Nikkei 225 Index up 0.97% and China's Shanghai
Composite Index down 0.33%.