DTN Early Word Grains         03/12 05:52
   Heightened Tensions in Iran War Push Up Row-Crop Markets

   May corn is up 4 1/2 cents per bushel, May soybeans are up 10 cents, May KC
wheat is up 4 1/4 cents, May Chicago wheat is up 5 3/4 cents, and MIAX May
Minneapolis wheat is up 0.0500 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: May corn is up 4 1/2 cents per bushel, May
soybeans are up 10 cents, May KC wheat is up 4 1/4 cents, May Chicago wheat is
up 5 3/4 cents, and MIAX May Minneapolis wheat is up 0.0500 cents.

   CME GLOBEX RECAP: On Wednesday, May corn closed up 8 cents, May soybeans
rose by 12 1/2 cents, and May KC wheat rose by 4 3/4 cents. Soybean, corn, and
spring wheat basis were steady on Wednesday, while soft red winter wheat and
hard red winter wheat basis were weaker. The war in Iran is causing the largest
oil supply disruption in history, according to the International Energy Agency.
For that reason, crude oil prices rose above $100 per barrel early Thursday. As
crude oil goes, so go the row-crop markets. Broad-based commodities are feeding
into the volatility frenzy. On Thursday, USDA will release the weekly Export
Sales report at 7:30 a.m. CDT. At the same time, the U.S. Census Bureau will
release the Trade Balance report for January. Later in the afternoon at 2 p.m.
CDT, USDA will release a series of commodity outlooks, such as their monthly
feed, cotton, and oil crops reports.

   OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones
Industrial Average down 289.24 at 47,417.27 and the S&P 500 down 5.68 at
6,775.80. The 10-Year Treasury yield ended at 4.208%. Early Thursday, the March
Dow Jones Futures are down 222 points. European markets are higher, with the
spot futures of London's FTSE 100 trading up 0.29%, spot futures of Germany's
DAX are trading up 0.14%, and the spot futures of France's CAC 40 Index are
down 0.32%. Asian markets are lower, with Japan's Nikkei 225 Index down 1.04%
and China's Shanghai Composite Index down 0.1%.