DTN Early Word Grains         02/12 05:50
   Can Soybean Rally Overcome Weekly Export Data?

   March corn is up 3/4 cent per bushel, March soybeans are up 13 1/2 cents,
March KC wheat is up 3 1/4 cents, March Chicago wheat is up 2 3/4 cents, and
MIAX May Minneapolis wheat is up 0.0025 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: March corn is up 3/4 cent per bushel,
March soybeans are up 13 1/2 cents, March KC wheat is up 3 1/4 cents, March
Chicago wheat is up 2 3/4 cents, and MIAX May Minneapolis wheat is up 0.0025
cents.

   CME GLOBEX RECAP: On Wednesday, March corn closed slightly lower, March
soybeans closed slightly higher, and March KC wheat closed up 8 cents. Soybeans
extended their weekly rally, closing higher for the sixth time out of seven
sessions. Technical buying pushed up wheat, while corn is pressured by global
production and sky-high estimates for U.S. output in 2026. The corn, hard red
winter wheat, spring wheat, and soft red winter wheat basis were steady on
Wednesday. Thursday at 7:30 a.m. CST, USDA will release its latest Export Sales
report with data for the week ending February 5. USDA will also release its
monthly outlooks at 2 p.m. CST, with follow-up details to Tuesday's WASDE on
commodities such as cotton, wheat, rice, and oil crops.

   OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones
Industrial Average down 66.74 at 50,121.40 and the S&P 500 down 0.34 at
6,941.47. The 10-Year Treasury yield ended at 4.172%. Early Thursday, the March
Dow Jones Futures are up 149 points. European markets are higher, with the spot
futures of London's FTSE 100 trading up 0.19%, spot futures of Germany's DAX
are trading up 1.27%, and the spot futures of France's CAC 40 Index are up
0.69%. Asian markets are mixed, with Japan's Nikkei 225 Index down 0.02% and
China's Shanghai Composite Index up 0.05%.