DTN Early Word Grains         05/06 05:48
   Talk of U.S.-Iran Peace Agreement Drops Markets Broadly

   July corn is down 8 3/4 cents per bushel, July soybeans are down 5 3/4
cents, July KC wheat is down 15 1/4 cents, July Chicago wheat is down 13 1/2
cents, and MIAX July Minneapolis wheat is down 0.1075 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: July corn is down 8 3/4 cents per bushel,
July soybeans are down 5 3/4 cents, July KC wheat is down 15 1/4 cents, July
Chicago wheat is down 13 1/2 cents, and MIAX July Minneapolis wheat is down
0.1075 cents.

   CME Globex Recap: On Tuesday, July corn dropped 5 3/4 cents, July soybeans
dropped 11 1/4 cents, and July KC wheat was down 4 1/2 cents. Corn, soybean,
and spring wheat basis were steady on Tuesday, while soft red winter wheat was
weaker, and hard red winter wheat basis was stronger. On Tuesday, markets were
lower, with the overall trading theme being profit-taking amid a Crop Progress
Report that showed few surprises. Soybean oil futures moved higher for a ninth
straight session, ignoring lower energy markets and trimming the soybean
market's losses. Traders remain optimistic that the U.S.-Chinese trade summit
will take place next week, despite differences between the two countries over
the blockades in the Strait of Hormuz. U.S. and Iranian officials may be close
to a peace agreement, according to early reports. The EIA will release its
weekly Petroleum Status report at 9:30 a.m. CDT Wednesday morning.

   OUTSIDE MARKETS: The previous close on Tuesday showed the Dow Jones
Industrial Average up 356.35 points at 49,298.25, and the S&P 500 up 58.47
points at 7,259.22. The 10-Year Treasury yield ended at 4.416%. Early
Wednesday, the June Dow Jones Futures are up 412 points. European markets are
higher, with the spot futures of London's FTSE 100 trading up 2.23%, spot
futures of Germany's DAX are trading up 2.58%, and the spot futures of France's
CAC 40 Index are up 2.45%. Asian markets are higher, with Japan's Nikkei 225
Index up 0.38% and China's Shanghai Composite Index up 1.17%.