DTN Early Word Grains         03/14 05:48
   Most Grain and Soy Markets Slip Lower Early Friday

   May corn is down 5 1/4 cents per bushel, May soybeans are down 1/4 cent, May
KC wheat is down 1 1/4 cents, May Chicago wheat is down 3 1/2 cents and May
Minneapolis wheat is down 2 cents.

Dana Mantini
Senior Market Analyst

   EARLY MORNING GLOBEX NET CHANGES: May corn is down 5 1/4 cents per bushel,
May soybeans are down 1/4 cent, May KC wheat is down 1 1/4 cents, May Chicago
wheat is down 3 1/2 cents and May Minneapolis wheat is down 2 cents.

   CME GLOBEX RECAP: Thursday gave us a short-lived short covering rally in
grain and soy, but those markets, except for soybean oil, are right back down
again early Friday. Soybean oil is the exception to start as Thursday's export
sales showed bean oil sales again jumping above the USDA yearly estimate.
Tariffs continue to weigh heavily on the agricultural futures markets as does
macro market pressure with fears of recession mounting. The soybean harvest in
Brazil and corn harvest in Argentina are moving ahead and should pressure
markets even more as possible logistics and storage issues in Brazil take
effect. Just since the end of January the Dow Jones average has slipped over
4,000 points with the S & P Index plunging over 600 points during that time.

   OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial
Average down 537.36 at 40,813.57 and the S&P 500 down 77.78 at 5,521.52. The
10-Year Treasury yield ended at 4.274%. Early Friday, the March Dow Jones
Futures are up 182 points. European markets are higher with the spot futures of
London's FTSE 100 trading up 0.54%, spot futures of Germany's DAX is trading up
0.75% and the spot futures of France's CAC 40 Index up 0.72%. Asian markets are
also higher with Japan's Nikkei 225 Index up 0.72% and China's Shanghai
Composite Index up 1.81%.