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DTN Early Word Grains         02/26 05:48
   Grain Markets Lower Amid Persistent Bearish Sentiment, Aggressive Selling of
Rallies

   March corn is down 3 1/4 cents per bushel, March soybeans are down 2 3/4
cents, May KC wheat is down 6 1/2 cents, May Chicago wheat is down 7 3/4 cents
and May Minneapolis wheat is down 4 cents.

Kent Beadle, DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: March corn is down 3 1/4 cents per bushel,
March soybeans are down 2 3/4 cents, May KC wheat is down 6 1/2 cents, May
Chicago wheat is down 7 3/4 cents and May Minneapolis wheat is down 4 cents.

   CME GLOBEX RECAP: World equity markets are mixed Monday morning after U.S.
markets closed on Friday with new lifetime highs. Many world markets set new
highs last week as well despite the higher interest rates that are not going to
come down as quickly as many had hoped a couple of months ago. Generally, AI is
driving this new series of highs in equity markets, with last week's huge
earnings beat from NVIDIA giving the market a sense that productivity gains
will accrue to many different sectors.

   Looking at the new economic data points that we will get this week, New Home
Sales will be released Monday morning. Durable goods and Consumer Confidence
are out on Tuesday, while 4th quarter GDP, PCE, and Inventories will come out
on Wednesday. The PCE number in particular will be important as it is one of
the Federal Reserve's favorite inflation indicators. Thursday brings weekly
jobless claims and Personal Income while Friday gives U.S. Consumer Sentiment
and the ISM Manufacturing index.

   OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial
Average up 62.42 at 39,131.53 and the S&P 500 up 1.77 at 5,088.80, The 10-Year
Treasury yield ended at 4.26%. Early Monday, the March Dow Jones Futures are
down 35 points. European markets are lower with the spot futures of London's
FTSE 100 trading down 0.4%, spot futures of Germany's DAX is trading down 0.06%
and the spot futures of France's CAC 40 Index down 0.37%. Asian markets are
mixed with Japan's Nikkei 225 Index up 0.35% and China's Shanghai Composite
Index down 0.93%.
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