DTN Early Word Grains         02/10 05:49
   Grain Markets Slightly Lower to Open USDA Week

   March corn is down 1 1/2 cents and March soybeans are down 1 1/4 cents.
March KC wheat is down 3 1/4 cents, March Chicago wheat is down 4 3/4 cents,
and March Minneapolis wheat is down 1 1/4 cents.

Rhett Montgomery
DTN Lead Analyst

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

   CME GLOBEX RECAP: Grain markets are down to begin the week, recovering
slightly from Sunday's open which featured an initial bearish flavor due to
comments from President Trump on Sunday promising tariffs on aluminum and steel
imports on Monday, as well as further reciprocal tariff action later in the
week. The market recently has been expressing increasing optimism regarding
grains position in light of new tariffs as thus far Ag commodities have been
left more or less unscathed, other than a general nervousness in the
marketplace. Traders will also be positioning for Tuesday's World Agricultural
Supply and Demand Estimates (WASDE) report due from the USDA. Expectations are
for a fairly neutral report in terms of U.S. balance sheets, and the report
will offer an update on South American crop outlooks.

   OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial
Average down 444.23 points to 44,303.40 and the S&P 500 Index down 57.58 at
6,025.99. The 10-Year Treasury yield ended at 4.49%. Early Monday, March Dow
Jones futures are up 164 points. European markets are higher with the spot
futures of the London FTSE 100 trading up 0.57%, spot futures of Germany's DAX
trading up 0.32% and spot futures of France's CAC Index trading up 0.19%. Asian
markets are slightly higher as well with Japan's Nikkei 225 index up 0.04% and
China's Shanghai Composite Index up 0.56%.