DTN Early Word Grains         11/06 05:46
   Corn Stuck in Narrow Range, Soybeans See Daily Volatility

   December corn is down 1 1/4 cents per bushel, January soybeans are down 9
1/4 cents, December KC wheat is down 6 cents, December Chicago wheat is down 5
cents, and MIAX December Minneapolis wheat is down 0.0075 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: December corn is down 1 1/4 cents per
bushel, January soybeans are down 9 1/4 cents, December KC wheat is down 6
cents, December Chicago wheat is down 5 cents, and MIAX December Minneapolis
wheat is down 0.0075 cents.

   CME GLOBEX RECAP: Soybean futures on Wednesday recovered losses from the
previous session, while corn and wheat climbed higher on optimism about the
U.S.-China trade deal. Soybean and corn basis remained steady, whereas spring
wheat and SRW wheat basis weakened on Wednesday, and HRW wheat basis
strengthened. China will lift retaliatory tariffs of 15% on U.S. imports of
most farm goods, according to multiple media reports. However, China announced
on Wednesday that it will maintain a 13% tariff on U.S. soybean imports. This
news appears to be putting early Thursday pressure on overnight markets. For
corn, weekly ethanol production reached a record for the week ending October
31, reinforcing strong demand. Wheat traders are still reacting positively to
the unconfirmed report that China recently purchased U.S. wheat for the first
time in a year.

   OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones
Industrial Average up 225.76 at 47,311.0 and the S&P 500 up 24.74 at 6,796.29.
The 10-Year Treasury yield ended at 4.157%. Early Thursday, the December Dow
Jones Futures are down 18 points. European markets are lower with the spot
futures of London's FTSE 100 trading down 0.3%, spot futures of Germany's DAX
are trading down 0.16% and the spot futures of France's CAC 40 Index are down
0.55%. Asian markets are higher, with Japan's Nikkei 225 Index up 1.34% and
China's Shanghai Composite Index up 0.97%.