DTN Early Word Grains         11/20 05:47
   Row-Crop Markets Adjusting to Delayed, Fresh Demand News

   December corn is up 3/4 cent per bushel, January soybeans are up 1 1/4
cents, March KC wheat is up 1 1/2 cents, March Chicago wheat is up 2 1/2 cents,
and MIAX March Minneapolis wheat is up 0.0100 cents.

Mike McGinnis
DTN Contributing Analyst

   MORNING GLOBEX NET CHANGES: December corn is up 3/4 cent per bushel, January
soybeans are up 1 1/4 cents, March KC wheat is up 1 1/2 cents, March Chicago
wheat is up 2 1/2 cents, and MIAX March Minneapolis wheat is up 0.0100 cents.

   CME GLOBEX RECAP: Overnight, corn and soybeans declined, while wheat traded
higher. On Wednesday, soybean traders continued taking profits, which pushed
the market lower. Corn and wheat markets were influenced by a risk-off session
in both commodities and equities. The basis for corn, soybean, hard red winter
wheat, and soft red winter wheat remained steady on Wednesday, while spring
wheat basis strengthened. Fundamentally, demand reports continue to show solid
strength for corn and soybeans. On Wednesday, China purchased another large
amount of U.S. soybeans. Meanwhile, the EIA's weekly Petroleum Status Report
showed ethanol production increased again from the previous week. Thursday will
be a busy day for economic data releases, starting at 7:30 a.m. CST with
employment and wage data for September. At the same time, the USDA will release
export sales for the week ending October 2. Later, the USDA will publish the
first monthly livestock slaughter report since late September.

   OUTSIDE MARKETS: The previous closes on Wednesday showed the Dow Jones
Industrial Average up 47.03 at 46,138.77 and the S&P 500 up 24.84 at 6,642.16.
The 10-Year Treasury yield ended at 4.133%. Early Thursday, the December Dow
Jones Futures are up 254 points. European markets are higher with the spot
futures of London's FTSE 100 trading up 0.73%, spot futures of Germany's DAX
are trading up 0.89% and the spot futures of France's CAC 40 Index are up
0.73%. Asian markets are mixed, with Japan's Nikkei 225 Index up 2.65% and
China's Shanghai Composite Index down 0.4%.