DTN Early Word Grains         10/31 05:45
   Corn, Soybean, and Wheat Markets Eye Month-End Profit-Taking

   December corn is down 1 cent per bushel, January soybeans are down 1/4 cent,
December KC wheat is down 4 3/4 cents, December Chicago wheat is down 3 3/4
cents, and MIAX December Minneapolis wheat is up 0.0125 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: December corn is down 1 cent per bushel,
January soybeans are down 1/4 cent, December KC wheat is down 4 3/4 cents,
December Chicago wheat is down 3 3/4 cents, and MIAX December Minneapolis wheat
is up 0.0125 cents.

   CME GLOBEX RECAP: While soybeans closed more than ten cents higher on
Thursday, corn finished 3 cents lower and wheat declined by 9 cents. Soybean
basis weakened, whereas corn and spring wheat basis strengthened on Thursday.
SRW wheat and HRW wheat basis remained steady. The markets diverged as soybean
traders factored in details of the U.S.-China trade agreement that resumes U.S.
soybean exports to its biggest customer. Ultimately, the January soybean
futures contract closed 37 cents above its daily low. Corn mostly ignored the
trade news, though there is some talk that China might buy more U.S. sorghum,
which could lead to increased ethanol production from corn. For wheat, the
China trade deal offered little benefit, as other countries are more
competitive in the global market. Ample rain in wheat-producing regions
continues to weigh on the market.

   OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial
Average down 109.88 at 47,522.12 and the S&P 500 down 68.25 at 6,822.34. The
10-Year Treasury yield ended at 4.093%. Early Friday, the December Dow Jones
Futures are down 8 points. European markets are lower, with spot futures of
London's FTSE 100 trading down 0.45%, spot futures of Germany's DAX trading
down 0.61%, and spot futures of France's CAC 40 Index trading down 0.43%. Asian
markets are mixed, with Japan's Nikkei 225 Index up 2.12% and China's Shanghai
Composite Index down 0.81%.