DTN Early Word Grains         04/21 05:49
   Row-Crop Weather, Middle East Peace Talks Drive Price Direction

   May corn is down 1/4 cent per bushel, May soybeans are up 6 1/2 cents, July
KC wheat is up 1 1/2 cents, July Chicago wheat is up 1 1/2 cents, and MIAX July
Minneapolis wheat is up 0.0025 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: May corn is down 1/4 cent per bushel, May
soybeans are up 6 1/2 cents, July KC wheat is up 1 1/2 cents, July Chicago
wheat is up 1 1/2 cents, and MIAX July Minneapolis wheat is up 0.0025 cents.

   CME Globex Recap: On Monday, May corn rose 3 1/4 cents, May soybeans
declined 1 1/2 cents, and May KC wheat dropped 1 3/4 cents. Soybean and spring
wheat basis levels were stronger on Monday, while corn, soft red winter wheat,
and hard red winter wheat basis levels were steady. Heightened tension in the
Middle East is underpinning energy markets and is slightly spilling over into
farm markets. Corn and soybean oil prices are getting a boost from the
escalation between the U.S., Israel, and Iran, while soybean traders see it as
a source of pressure. The longer the conflict drags on, the less optimistic
soybean traders are about U.S. and Chinese leaders meeting next month to
discuss trade. Wheat prices, though weaker, have been trimmed due to weak crop
conditions and threatening weather. U.S. and Iranian negotiators will meet on
Tuesday, ahead of a two-week ceasefire deadline that passes Wednesday night.
However, as of early Tuesday, Iran hadn't sent a delegation to Pakistan.
President Trump said he is not willing to extend the deadline.

   OUTSIDE MARKETS: The previous close on Monday showed the Dow Jones
Industrial Average down 4.87 points at 49,442.56, and the S&P 500 down 16.92
points at 7,109.14. The 10-Year Treasury yield ended at 4.25%. Early Tuesday,
the June Dow Jones Futures are up 266 points. European markets are higher, with
the spot futures of London's FTSE 100 trading up 0.27%, spot futures of
Germany's DAX are trading up 0.58%, and the spot futures of France's CAC 40
Index are up 0.4%. Asian markets are higher, with Japan's Nikkei 225 Index up
0.76% and China's Shanghai Composite Index up 0.83%.