DTN Early Word Grains         12/02 05:48
   Fundamentally, Row-Crop Market Bulls Rely on Strong Demand

   March corn is up 1/4 cent per bushel, January soybeans are up 4 1/2 cents,
March KC wheat is down 3 3/4 cents, March Chicago wheat is down 3 1/4 cents,
and MIAX March Minneapolis wheat is up 0.0175 cents.

Mike McGinnis
DTN Contributing Analyst

   MORNING GLOBEX NET CHANGES: March corn is up 1/4 cent per bushel, January
soybeans are up 4 1/2 cents, March KC wheat is down 3 3/4 cents, March Chicago
wheat is down 3 1/4 cents, and MIAX March Minneapolis wheat is up 0.0175 cents.

   CME GLOBEX RECAP: Soybeans led the decline on Monday, with corn and wheat
following suit. Overnight, corn and soybean prices increased early Tuesday,
while wheat stayed in the red. The basis for corn, soft red winter wheat, hard
red winter wheat, soybean, and spring wheat was stronger on Monday. The corn
market continues to rely on strong demand to avoid falling prices. On Monday,
the USDA's delayed export sales as of October 23 showed commitments that are
37% higher than last year. Soybean traders are using daily sales announcements
as a safety net for weaker prices. Monday's trading session saw no flash sales,
resulting in a lower move. Wheat's safety net for price declines is similar to
corn demand. The latest export sales report showed wheat commitments are 22%
higher than a year ago. Tuesday is a quiet day for scheduled reports, but the
CFTC will release another delayed Commitments of Traders report at 2:30 p.m.
CST, with trader position data up to October 21.

   OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial
Average down 427.09 at 47,289.33 and the S&P 500 down 36.46 at 6,812.63. The
10-Year Treasury yield ended at 4.096%. Early Tuesday, the December Dow Jones
Futures are up 76 points. European markets are higher with the spot futures of
London's FTSE 100 trading up 0.29%, spot futures of Germany's DAX are trading
up 0.7% and the spot futures of France's CAC 40 Index are 0.47%. Asian markets
are mixed, with Japan's Nikkei 225 Index up 0% and China's Shanghai Composite
Index down 0.42%.