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DTN Early Word Grains         10/14 05:58
   Grain Rally Continues on Trade, Storm Fallout

   December corn is up 3/4 cent per bushel, November soybeans are up 1 1/2
cents, and December K.C. wheat is up 4 cents.

By Tregg Cronin
DTN Contributing Analyst

6:00 a.m. CME Globex:   December corn is up 3/4 cent per bushel, November
soybeans are up 1 1/2 cents, and December K.C. wheat is up 4 cents.

CME Globex Recap:   Mixed to weaker global equity markets as the euphoria
surrounding last week's "mini-deal" or "phase-one" of the U.S.-China trade deal
seems to be fading a bit. A host of analysts have been out over the weekend
throwing cold water on the optimism the Trump Administration was pitching
Friday, and Chinese official media has made no mention of Beijing pledging to
boost ag purchases by $50 billion. President Trump said the deal could take
three to five weeks to put in paper, something ag markets will be quick to
discount if the agreement doesn't pass the smell test. Despite this, grain
markets are still posting gains to start the week, following through on the
impressive rally Friday. Harvest efforts should resume in the heart of the Corn
Belt this week with a week of favorable conditions forecast. Northern Plains
harvest should be delayed another week at least as snow still needs to melt and
field conditions need to firm up before equipment can be supported. Far too
early to estimate losses from the late week storm with quality likely to be
impacted more than outright bushel losses from unharvest-able crop.

OUTSIDE MARKETS:   Previous closes Friday showed the Dow Jones Industrial
Average up 319.92 at 26,816.59 and the S&P 500 up 32.14 at 2,938.13 while the
10-Year Treasury yield ended at 1.752%. Early Monday, the December DJIA futures
are down 87 points. Asian markets are higher with Japan's Nikkei closed and
China's Shanghai Composite up 34.23 points (1.15%). European markets are lower
with London's FTSE 100 down 43.89 points (-0.61%), Germany's DAX down 94.89
points (-0.76%) and France's CAC 40 down 47.93 points (-0.85%). The December
Euro is down 0.001 at 1.110 and the December U.S. dollar index is up 0.125 at
98.130. The December 30-Year T-Bond is up 34/32nds, while December gold is up
$9.10 at $1,497.80 and November crude oil is down $0.98 at $53.72. Soybeans on
China's Dalian Exchange were down 0.42% while soybean meal was down 0.3%.
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