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DTN Early Word Grains         07/25 06:02
   Only Five Months 'Til Christmas

   December corn was 2 cents higher, November soybeans were 1 cent higher, and
September Chicago wheat was 7 cents higher.

By Darin Newsom
DTN Senior Analyst

6:00 a.m. CME Globex:   December corn was 2 cents higher, November soybeans
were 1 cent higher, and September Chicago wheat was 7 cents higher.

CME Globex Recap:   Grain market bulls may view early Monday morning as an
early Christmas present, with the complex showing small gains. The leader, not
the most obvious choice, was September Chicago wheat. Some of the buying was
tied to support from the lower U.S. dollar index heading into this week's
two-day FOMC meeting. However, crude oil and gold were both trading lower.

OUTSIDE MARKETS:   The Dow Jones Industrial Average closed 53.62 points higher
at 18,570.85, the NASDAQ Composite gained 26.26 points to 5,100.16, and the S&P
500 rallied 9.86 points to close at 2,175.03 Friday. DJIA futures were 4 points
higher overnight. Asian markets were mostly higher with Japan's Nikkei down
6.96 points while China's Shanghai Composite gained 3.01 points (0.1%).
European markets were also mostly higher with London's FTSE 100 up 10.68 points
(0.1%), Germany's DAX was 99.08 points (1.0%) higher, and France's CAC 40
gained 32.85 points (0.7%). The U.S. dollar index slipped 0.197 to 97.270.
Crude oil dipped $0.26 to $43.93 while Brent crude was $0.24 lower at $45.45.
August gold was $6.40 lower at $1,317.00. China's Dalian soybean and Malaysian
palm oil futures were both lower overnight.
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