DTN Early Word Grains         10/23 05:55
   In the past 30 days, Corn is down 13%, Wheat 11%, Soybeans 5%

   December corn is down 2 1/2 cents per bushel, November soybeans are down 3/4
cent, December KC wheat is down 2 cents, December Chicago wheat is down 1/2
cent, and MIAX December Minneapolis wheat is up 0.0450 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: December corn is down 2 1/2 cents per
bushel, November soybeans are down 3/4 cent, December KC wheat is down 2 cents,
December Chicago wheat is down 1/2 cent, and MIAX December Minneapolis wheat is
up 0.0450 cents.

   CME GLOBEX RECAP: On Thursday, December corn dropped 2 3/4 cents, November
soybeans rose 7 3/4 cents, and December KC wheat dropped 7 1/4 cents. Corn,
soybean, hard red winter wheat, spring wheat and soft red winter basis wheat
were steady Thursday. On Thursday, optimism about a November ceasefire meeting
with Russia, Ukraine, and the U.S. drove the corn and wheat markets lower.
Soybeans traded higher for the first time since October 9. However, traders are
still ignoring nearly a week's worth of purchases from China and Thursday's
export sales figure, the highest weekly amount in three years. Suffice it to
say, harvest activity is trumping all other market drivers. This week's drier
Midwest weather has soybean harvest progress estimates at 80% for next week's
Crop Progress Report. The Iran-backed Houthi militants' attack on a Saudi
airport moved crude oil to a four-month high, as the U.S. moves additional
forces into the Middle East. On Friday, USDA will release the October Cattle on
Feed report at 2 p.m. CDT, as well as the monthly Cold Storage report at the
same time. At 2:30 p.m. CDT, CFTC will release the weekly Commitments of
Traders report, updating positions as of Tuesday, October 20.

   OUTSIDE MARKETS: Thursday's close showed the Dow Jones Industrial Average up
11.89 at 52,867.98 and the S&P 500 down 93.74 at 7,663.43. The 10-Year Treasury
yield ended at 4.953%. Early Friday, the December Dow Jones Futures are down
334 points. European markets are lower, with London's FTSE 100 spot futures
down 0.64%, Germany's DAX spot futures down 0.92%, and France's CAC 40 Index
spot futures down 0.78%. Asian markets are mixed, with Japan's Nikkei 225 Index
down 0.34% and China's Shanghai Composite Index up 0.89%.