DTN Early Word Grains         05/31 07:00
   Grains Higher, Bouncing After Two Poor Sessions

   July corn is up 2 3/4 cents per bushel, July soybeans are up 10 1/2 cents,
July KC wheat is up 9 1/4 cents, July Chicago wheat is up 6 1/2 cents and July
Minneapolis wheat is up 8 1/2 cents.

Kent Beadle, DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: July corn is up 2 3/4 cents per bushel,
July soybeans are up 10 1/2 cents, July KC wheat is up 9 1/4 cents, July
Chicago wheat is up 6 1/2 cents and July Minneapolis wheat is up 8 1/2 cents.

   CME GLOBEX RECAP: World equity markets are mixed, with U.S. markets lower
once again in what is turning out to be a very poor week for U.S. equity
markets. Traders are concerned that Friday's release of the PCE data will give
the Fed more data to confirm their "higher for longer" bias and that has
triggered a major correction in equity prices, that had previously been
supported due to the previous belief that interest rate cuts were going to come
sooner and more frequently.

   OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial
Average down 330.06 at 38,111.48 and the S&P 500 down 31.47 at 5,235.48, The
10-Year Treasury yield ended at 4.554%. Early Friday, the June Dow Jones
Futures are down 62 points. European markets are mixed with the spot futures of
London's FTSE 100 trading up 0.17%, spot futures of Germany's DAX is trading
down 0.35% and the spot futures of France's CAC 40 Index down 0.17%. Asian
markets are mixed with Japan's Nikkei 225 Index up 1.14% and China's Shanghai
Composite Index down 0.16%.