DTN Early Word Grains         02/10 05:43
   Markets Await USDA Supply/Demand, WASDE Reports

   March corn is steady, March soybeans are down 1 3/4 cents, March KC wheat is
down 1/2 cent, March Chicago wheat is down 1 1/4 cents, and MIAX March
Minneapolis wheat is down 0.0150 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: March corn is steady, March soybeans are
down 1 3/4 cents, March KC wheat is down 1/2 cent, March Chicago wheat is down
1 1/4 cents, and MIAX March Minneapolis wheat is down 0.0150 cents.

   CME GLOBEX RECAP: On Monday, March corn closed down 1 1/2 cents, March
soybeans closed down 4 1/2 cents, and March KC wheat closed down 2 1/2 cents.
Soybean, corn, and hard red winter wheat basis were steady on Monday, while
spring wheat basis was weaker, and soft red winter wheat basis was stronger.
The soybean oil market rallied on optimism that India would buy U.S. soybean
oil. Despite a soybean sale to China on Monday, favorable global crop weather
pressured the soybean and corn markets. Traders await Tuesday's USDA
Supply/Demand and WASDE Reports. Analysts expect a mostly bearish report for
corn, with a large carryout estimate. For soybeans, all eyes are on export
forecasts and world production estimates. For wheat, the USDA's inventory
estimates could be robust.

   OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial
Average up 20.20 at 50,135.87 and the S&P 500 up 32.52 at 6,964.82. The 10-Year
Treasury yield ended at 4.198%. Early Tuesday, the March Dow Jones Futures are
up 40 points. European markets are mixed, with spot futures of London's FTSE
100 trading down 0.32%, spot futures of Germany's DAX trading up 0.05%, and
spot futures of France's CAC 40 Index trading up 0.3%. Asian markets are
higher, with Japan's Nikkei 225 Index up 2.28% and China's Shanghai Composite
Index up 0.13%.