DTN Early Word Grains         12/31 05:48
   Row-Crop Traders Watch 2025 Fade Away, Eye Volatility in 2026

   EARLY MORNING GLOBEX NET CHANGES: March corn is down 1 1/4 cents per bushel,
March soybeans are down 4 cents, March KC wheat is down 4 1/2 cents, March
Chicago wheat is down 2 1/4 cents, and MIAX March Minneapolis wheat is down
0.0200 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: March corn is down 1 1/4 cents per bushel,
March soybeans are down 4 cents, March KC wheat is down 4 1/2 cents, March
Chicago wheat is down 2 1/4 cents, and MIAX March Minneapolis wheat is down
0.0200 cents.

   CME GLOBEX RECAP: On Tuesday, corn, soybeans, and wheat futures closed
lower. Overall, the markets largely ignored bullish news, including a Chinese
purchase of U.S. soybeans, and faded in a quiet trading session. Corn, soybean,
and spring wheat basis were steady on Tuesday, while hard red winter wheat and
soft red winter wheat basis strengthened. The markets will be closed on
Thursday for the New Year's Day holiday. Wednesday, the final trading session
of the year, will feature the first notice day for January futures delivery and
the final catch-up of the CFTC Commitments of Traders report. Additionally,
traders are monitoring daily soybean sales to China. The latest export sales
report, covering the week ended Dec. 18, will be released at 7:30 a.m. CST.
Later in the morning, the Energy Information Administration will release its
Petroleum Status Report at 9:30 a.m. CST, with ethanol production and stocks
for the week ended Dec. 26.

   OUTSIDE MARKETS: The previous close on Tuesday showed the Dow Jones
Industrial Average down 94.87 at 48,367.06 and the S&P 500 down 9.50 at
6,896.24. The 10-Year Treasury yield ended at 4.13%. Early Wednesday, the March
Dow Jones Futures are down 74 points. European markets are mixed/higher/lower
with the spot futures of London's FTSE 100 trading down 0.38%, spot futures of
Germany's DAX are trading up 0.65% and the spot futures of France's CAC 40
Index are down 0.61%. Asian markets are mixed, with Japan's Nikkei 225 Index
steady and China's Shanghai Composite Index up 0.09%. The March Euro is down
0.001 at 1.178, and the March U.S. Dollar Index is up 0.090 at 98.045.  The
March 30-Year T-Bond is up 9/32nds, while February gold is down $61.70 at
$4,324.60, and February crude oil is up $0.17 at $58.12. On China's Dalian
Exchange, March corn was down 0.54% while May soybeans were up 0.69%, May
soybean meal was down 0.33% and March Malaysian Palm Oil was trading down 0.49%.