DTN Early Word Grains         04/30 05:45
   Row-Crop Weather Rally Faces End-of-Month Profit-Taking

   July corn is down 2 3/4 cents per bushel, July soybeans are down 1 cent,
July KC wheat is down 10 3/4 cents, July Chicago wheat is down 7 3/4 cents, and
MIAX July Minneapolis wheat is down 0.0475 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: July corn is down 2 3/4 cents per bushel,
July soybeans are down 1 cent, July KC wheat is down 10 3/4 cents, July Chicago
wheat is down 7 3/4 cents, and MIAX July Minneapolis wheat is down 0.0475 cents.

   CME Globex Recap: On Wednesday, July corn rose 2 1/4 cents, July soybeans
rose 7 3/4 cents, and July KC wheat rose 2 1/2 cents. Corn and soft red winter
wheat basis were steady, while spring wheat and soybean basis levels were
stronger on Wednesday, and hard red winter wheat basis was weaker. The markets
continued their higher trading on Wednesday, as traders factored in trade
disruptions in the Middle East. Additionally, ongoing struggles with winter
wheat crop conditions underpin wheat and corn prices. New crop corn futures
have recorded nine straight higher trading sessions. As the calendar turns to
May, traders are squarely focused on updated weather forecasts. On the bear
side, it's that time of the month for funds to take profits. The 6-10-day
outlook favors planting progress in the U.S. Thursday morning, USDA will update
its Weekly Export Sales report at 7:30 a.m. CDT. At the same time, there will
be a couple of notable macroeconomic releases, including Q1 2026 GDP and March
Personal Consumption Expenditure data.

   OUTSIDE MARKETS: The previous close on Wednesday showed the Dow Jones
Industrial Average down 280.12 points at 48,861.81, and the S&P 500 down 2.85
points at 7,135.95. The 10-Year Treasury yield ended at 4.418%. Early Thursday,
the June Dow Jones Futures are down 73 points. European markets are higher,
with the spot futures of London's FTSE 100 trading up 1.01%, spot futures of
Germany's DAX are trading up 0.27%, and the spot futures of France's CAC 40
Index are down 0.53%. Asian markets are mixed, with Japan's Nikkei 225 Index
down 1.06% and China's Shanghai Composite Index up 0.11%.