DTN Early Word Grains 06/18 05:58

DTN Early Word Grains         06/18 05:58
   Soybeans Quiet in the Face of New Tariffs

   July corn was down 2 3/4 cents, July soybeans were unchanged, and July
Kansas City (HRW) wheat was down 7 1/2 cents.

By Todd Hultman
DTN Analyst

6:00 a.m. CME Globex:   July corn was down 2 3/4 cents, July soybeans were
unchanged, and July Kansas City (HRW) wheat was down 7 1/2 cents.

CME Globex Recap:   It did not take long for China to respond to Friday's new
tariffs with $34 billion of their own new tariffs, which include a 25% penalty
on U.S. soybean imports. Stock markets are mostly lower around the globe, the
U.S. dollar index is slightly lower, and outside commodities are mixed while
grains are starting the week mostly lower.

OUTSIDE MARKETS:   Friday's trading saw the Dow Jones Industrial Average drop
84.83 points to 25,090.48 while the S&P 500 was down 2.83 points to 2,779.66,
while the 10-year Treasury yield ended at 2.92%. Early Monday, DJIA futures
were down 176 points. Asian markets were lower with Japan's Nikkei 225 down
171.42 points -0.7%) and China's Shanghai Composite on holiday. European
markets were also lower with London's FTSE 100 down 12.81 points (-0.2%),
Germany's DAX down 132.52 points (-1.0%), and France's CAC 40 down 51.19 points
(-0.9%). The euro was down 0.0009 and the U.S. dollar index was down 0.05 to
94.74. June 30-year T-Bonds were up 5/32nds while August gold was up $4.50 to
$1,283.00 and August crude oil was down $0.34 at $64.51. China's Dalian
Exchange was closed Monday and Malaysian palm oil futures were down 1.2%.