DTN Early Word Grains         05/12 05:56
   Soybeans Sharply Higher on US-China Agreement to Significantly Reduce
Tariffs for 90 Days

    July corn is up 3 1/2 cents per bushel, July soybeans are up 17 1/4 cents,
July KC wheat is up 1 1/2 cents, July Chicago wheat is up 1/4 cent and July
Minneapolis wheat is down 2 cents.

Kent Beadle, DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: July corn is up 3 1/2 cents per bushel,
July soybeans are up 17 1/4 cents, July KC wheat is up 1 1/2 cents, July
Chicago wheat is up 1/4 cent and July Minneapolis wheat is down 2 cents.

   CME GLOBEX RECAP: World equity markets are higher as the U.S. and China have
agreed to a 90-day pause in their tariff war, with both sides reducing current
rates by 115 percentage points. U.S. imports of Chinese products will see
tariffs fall to 30% while Chinese imports of U.S. products will fall to 10%.
U.S. stock futures are up between 2% to 3% as U.S. companies that rely on
Chinese products for the Christmas season can now order those goods from China.
World markets are also higher but European stocks are only up between 1% to 2%.

   This week's new economic releases include the monthly federal budget deficit
on Monday; the consumer price index on Tuesday; the producer price index,
retail sales, initial jobless claims, industrial production, capacity
utilization, and business inventories all on Thursday. Friday will bring
reports on import prices, housing starts and building permits. In agriculture,
the May WASDE report will be released Monday morning at 11 a.m. CDT.

   OUTSIDE MARKETS: Previous close Friday showed the Dow Jones Industrial
Average down 119.07 at 41,249.38 and the S&P 500 down 4.03 at 5,659.91, The
10-Year Treasury yield ended at 4.375%. Early Monday, the June Dow Jones
Futures are up 989 points. European markets are higher with the spot futures of
London's FTSE 100 trading up 0.36%, spot futures of Germany's DAX are trading
up 1.08% and the spot futures of France's CAC 40 Index up 1.72%. Asian markets
are mixed/higher/lower with Japan's Nikkei 225 Index up 0.38% and China's
Shanghai Composite Index up 0.82%.