DTN Early Word Grains         04/01 05:46
   Early Signals of the Iran War Ending Sinks Commodities Prices

   May corn is down 4 cents per bushel, May soybeans are down 5 1/4 cents, May
KC wheat is down 14 1/2 cents, May Chicago wheat is down 11 1/4 cents, and MIAX
July Minneapolis wheat is down 0.0550 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: May corn is down 4 cents per bushel, May
soybeans are down 5 1/4 cents, May KC wheat is down 14 1/2 cents, May Chicago
wheat is down 11 1/4 cents, and MIAX July Minneapolis wheat is down 0.0550
cents.

   CME GLOBEX RECAP: On Tuesday, May corn increased by 2 cents, May soybeans
gained 11 1/4 cents, and May KC wheat rose by 9 1/4 cents. Corn and hard red
winter wheat basis remained steady on Tuesday, while soft red winter wheat,
soybeans, and spring wheat basis strengthened. The markets reacted positively
to the USDA Prospective Plantings Report, which showed lower soybean acreage
for 2026 than the trade expected. Additionally, the shift in acreage to corn
was not as large as anticipated. Wheat prices found support from weak crop
progress ratings early in the week. The Quarterly Grain Stocks Report estimates
fell within the trade's expectations. Mixed to declining energy markets,
influenced by President Trump's comments about ending the Iranian war without
reopening the Strait of Hormuz, limited row-crop price gains. On Tuesday,
President Trump stated the U.S. would leave Iran in two to three weeks. That
remark pushed crude oil and the U.S. dollar lower.

   OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial
Average up 1,125.37 at 46,341.51 and the S&P 500 up 184.80 at 6,528.52. The
10-Year Treasury yield ended at 4.311%. Early Wednesday, the June Dow Jones
Futures are up 234 points. European markets are higher, with the spot futures
of London's FTSE 100 trading up 1.82%, spot futures of Germany's DAX are
trading up 2.08%, and the spot futures of France's CAC 40 Index are up 1.5%.
Asian markets are higher, with Japan's Nikkei 225 Index up 5.24% and China's
Shanghai Composite Index up 1.46%.