DTN Early Word Grains         10/28 05:52
   Row-Crop Market Action Signals a Lack of Bullish News

   December corn is up 1 1/2 cents per bushel, January soybeans are up 4 1/4
cents, December KC wheat is up 1/2 cent, December Chicago wheat is down 1/4
cent, and MIAX December Minneapolis wheat is down 0.0150 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: December corn is up 1 1/2 cents per
bushel, January soybeans are up 4 1/4 cents, December KC wheat is up 1/2 cent,
December Chicago wheat is down 1/4 cent, and MIAX December Minneapolis wheat is
down 0.0150 cents.

   CME GLOBEX RECAP: On Tuesday, December corn dropped 6 1/4 cents, November
soybeans dropped 12 cents, and December KC wheat dropped 8 1/2 cents. Soybean
basis was stronger Monday, while corn, spring wheat, hard red winter wheat, and
soft red winter wheat basis were steady. Row-crop markets had a tough trading
day on Tuesday, a theme likely to continue as the harvest progresses. It's a
seasonal pressure that isn't surprising. To boot, outside investors are
liquidating daily, adding further downside pressure. Where does it stop? Good
question. Brazil's planting season will soon be the key driver, and so far, it
is going well. On Wednesday, the Energy Information Administration will release
the weekly Petroleum Status report at 9:30 a.m. CDT, including last week's
ethanol production. At 1 p.m. CDT, the Federal Reserve will announce its
October interest rate decision, in which it is widely expected to hold rates
steady.

   OUTSIDE MARKETS: Tuesday's close showed the Dow Jones Industrial Average up
15.99 to 52,377.57 and the S&P 500 up 45.83 to 7,722.60. The 10-Year Treasury
yield ended at 4.993%. Early Wednesday, the December Dow Jones Futures are down
129 points. European markets are lower, with London's FTSE 100 spot futures
down 0.33%, Germany's DAX spot futures down 0.16%, and France's CAC 40 Index
spot futures down 0.16%. Asian markets are higher, with Japan's Nikkei 225
Index up 1.08% and China's Shanghai Composite Index up 0.91%.