DTN Early Word Grains         08/01 05:48
   Corn, Soybean Markets Seek Rebound in August

   September corn is up 3/4 cents and September soybeans are unchanged.
December corn is up 1 cent and November soybeans are unchanged. September KC
wheat is down 3 cents, September Chicago wheat is down 3 1/2 cents, and
September MIAX Minneapolis wheat is down 2 1/2 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: September corn is up 3/4 cents and
September soybeans are unchanged. December corn is up 1 cent and November
soybeans are unchanged. September KC wheat is down 3 cents, September Chicago
wheat is down 3 1/2 cents, and September MIAX Minneapolis wheat is down 2 1/2
cents.

   CME GLOBEX RECAP: Continued short covering on the final trading session of
July propped up the corn, soybean, and wheat markets on Thursday. USDA's weekly
Export Sales Report for the week ending July 24 showed strong corn and wheat
sales, while soybean sales fell below expectations. Meanwhile, Thursday's
report showed total corn commitments slightly above the USDA's projection for
the old-crop marketing year, soybean commitments are now above the USDA's
projection, and wheat commitments are below the pace needed to reach the USDA's
marketing year projection. Thursday's trading was highlighted by technical
support, more so than the fundamentals that remain unchanged. For corn, demand
stays strong, and soybean sales are getting little attention from buyers. Wheat
traders continue to watch early harvest activity that shows average yields,
while spring wheat crop conditions are mixed. Traders remain confused about
whether trade tariff news will impact the markets, with the deadline goalpost
moving now to August 7. Late Thursday, President Trump raised levies on
Canadian goods that don't comply with a North American trade agreement to 35%.
Switzerland will be hit with a 39% rate. The European Union, Japan, and South
Korea will see levies of 15% on their goods. Other smaller countries largely
get 15% duties, while those with which the U.S. has a surplus will have 10%
tariffs.

   OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial
Average down 330.30 at 44,130.98 and the S&P 500 Index down 23.51 at 6,339.39.
The 10-Year Treasury yield ended at 4.36%. Early Friday, September Dow Jones
futures are down 431 points. European markets are lower with the spot futures
of the London FTSE 100 trading down 0.54%, spot futures of Germany's DAX
trading down 1.69% and spot futures of France's CAC Index trading down 1.65%.
Asian markets are lower as well with Japan's Nikkei 225 index down 0.66% and
China's Shanghai Composite Index down 0.37%.