DTN Early Word Grains         07/30 05:47
   Two War Front Strikes Keep Row-Crop Market Volatility Alive

   December corn is up 3 1/4 cents per bushel, November soybeans are up 3 1/4
cents, September KC wheat is up 28 cents, September Chicago wheat is up 24 1/2
cents, and MIAX September Minneapolis wheat is up 0.1700 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: December corn is up 3 1/4 cents per
bushel, November soybeans are up 3 1/4 cents, September KC wheat is up 28
cents, September Chicago wheat is up 24 1/2 cents, and MIAX September
Minneapolis wheat is up 0.1700 cents.

   CME GLOBEX RECAP: On Wednesday, September corn dropped 9 1/2 cents, November
soybeans dropped 27 1/4 cents, and September KC wheat dropped 3/4 of a cent.
Corn and hard red winter wheat basis was steady, while soybean basis was weaker
Wednesday, and spring wheat and soft red winter wheat basis was stronger. The
weatherman drove the row-crops lower on Wednesday. August crop weather is
looking less threatening through the middle of the month. For the week,
soybeans have shaved off 60 cents, while corn fell for a second session. Wheat
has finished lower in four straight sessions. Wheat losses are insulated by a
56-year low U.S. production estimate for 2026. Crude oil jumped $5 per barrel
on Wednesday. However, soybean oil decoupled from the energy markets. The U.S.
launched retaliatory strikes on Iranian military targets early Thursday. USDA
will release the weekly Export Sales report at 7:30 a.m. CDT. At the same time,
the Bureau of Economic Analysis will release the advance estimate of second
quarter U.S. GDP, as well as the June Personal Consumption Expenditure Index.

   OUTSIDE MARKETS: The previous close on Wednesday showed the Dow Jones
Industrial Average down 1,153.18 at 51,594.14 and the S&P 500 down 112.63 at
7,316.15. The 10-Year Treasury yield ended at 4.622%. Early Thursday, the
September Dow Jones Futures are up 91 points. European markets are mixed, with
the spot futures of London's FTSE 100 trading up 0.48%, spot futures of
Germany's DAX are trading down 0.06%, and Asian markets are mixed, with Japan's
Nikkei 225 Index up 0.71% and China's Shanghai Composite Index down 0.62%.