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DTN Early Word Grains         05/23 05:52
   Grain Markets Mixed as Soybeans Near Resistance, Wheat Corrects Recent Gains

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

Kent Beadle, DTN Contributing Analyst

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

   CME GLOBEX RECAP: World equity markets are mixed with U.S. markets
rebounding after a lower close on Wednesday. Traders are cautious with stocks
near lifetime highs and an uncertain interest rate outlook as members of the
Fed are providing contradictory guidance in their recent speeches. Wednesday's
stronger than expected existing home sales data had traders leaning back toward
the "higher for longer" case, which prompted the profit taking in equities.
Thursday morning, we will see initial jobless claims, flash PMIs, and new home
sales.

   OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial
Average down 201.95 at 39,671.04 and the S&P 500 down 14.40 at 5,307.01, The
10-Year Treasury yield ended at 4.43%. Early Thursday, the June Dow Jones
Futures are up 44 points. European markets are mixed with the spot futures of
London's FTSE 100 trading down 0.01%, spot futures of Germany's DAX is trading
up 0.13% and the spot futures of France's CAC 40 Index up 0.08%. Asian markets
are mixed with Japan's Nikkei 225 Index up 1.26% and China's Shanghai Composite
Index down 1.33%.
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