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DTN Early Word Grains         06/21 05:59
   Soybeans Lower, U.S. Faces More Tariffs

   July corn was down 1 cent, July soybeans were down 7 1/2 cents, and
September Kansas City (HRW) wheat was down 4 1/2 cents.

By Todd Hultman
DTN Analyst

6:00 a.m. CME Globex:   July corn was down 1 cent, July soybeans were down 7
1/2 cents, and September Kansas City (HRW) wheat was down 4 1/2 cents.

CME Globex Recap:   Global stock markets and commodities were mostly lower
early Thursday with news that Europe, India, and Turkey were all retaliating
against the U.S. with tariffs of their own. An active pattern of rain continues
to work through the Midwest as grains start Thursday on the defensive.

OUTSIDE MARKETS:   Wednesday's trading saw the Dow Jones Industrial Average
drop 42.41 points to 24,657.80 while the S&P 500 was up 4.73 points to 2,767.32
and the 10-year Treasury yield ended at 2.93%. Early Thursday, DJIA futures
were down 77 points. Asian markets were mixed with Japan's Nikkei 225 up 137.61
points (0.6%) and China's Shanghai Composite down 39.92 (-1.4%). European
markets were mostly lower with London's FTSE 100 up 5.07 points (0.1%),
Germany's DAX down 111.61 points (-0.9%), and France's CAC 40 down 22.95 points
(-0.4%). The euro was down 0.0070 and the U.S. dollar index was up 0.37 to
95.49. September 30-year T-Bonds were up 8/32nds while August gold was down
$9.90 at $1,264.60 and August crude oil was down $1.12 at $64.58. Soybeans on
China's Dalian Exchange were steady to lower and Malaysian palm oil futures
were down 0.6%.
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