DTN Early Word Grains         01/26 05:41
   Row-Crop Markets React to U.S., South America Weather Trends

   March corn is down 1 cent per bushel, March soybeans are up 4 cents, March
KC wheat is down 1/4 cent, March Chicago wheat is up 1 cent, and MIAX March
Minneapolis wheat is up 0.0200 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: March corn is down 1 cent per bushel,
March soybeans are up 4 cents, March KC wheat is down 1/4 cent, March Chicago
wheat is up 1 cent, and MIAX March Minneapolis wheat is up 0.0200 cents.

   CME GLOBEX RECAP: On Friday, March corn closed up 6 1/2 cents, March
soybeans closed up 3 3/4 cents, and March KC wheat closed up 15 cents. Market
drivers on Friday included multi-year high corn exports for the week ending
January 15, strong soybean sales, and winter weather threatening U.S. wheat
crops. Corn, spring wheat, and hard red winter wheat basis were steady on
Friday, while soybean and soft red winter wheat basis strengthened. Soybean oil
prices moved higher, underpinning the soybean trade. Outside markets were
favorable for agricultural commodities.

   OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial
Average down 285.30 at 49,098.71 and the S&P 500 up 2.26 at 6,915.61. The
10-Year Treasury yield ended at 4.239%. Early Monday, the March Dow Jones
Futures are down 31 points. European markets are lower, with spot futures of
London's FTSE 100 trading up 0.15%, spot futures of Germany's DAX are trading
down 0.16%, and spot futures of France's CAC 40 Index are down 0.37%. Asian
markets are lower, with Japan's Nikkei 225 Index down 1.79% and China's
Shanghai Composite Index down 0.09%.