DTN Early Word Grains         10/21 05:41
   Soybean Traders Lean Heavily on Optimistic Trade Talk

   December corn is up 1/4 cent per bushel, November soybeans are up 4 3/4
cents, December KC wheat is down 1/2 cent, December Chicago wheat is down 1
cent, and MIAX December Minneapolis wheat is up 0.0025 cents.

Mike McGinnis
DTN Contributing Analyst

   EARLY MORNING GLOBEX NET CHANGES: December corn is up 1/4 cent per bushel,
November soybeans are up 4 3/4 cents, December KC wheat is down 1/2 cent,
December Chicago wheat is down 1 cent, and MIAX December Minneapolis wheat is
up 0.0025 cents.

   CME GLOBEX RECAP: The soybean market rallied double digits, while corn and
wheat finished mixed on Monday. Corn, SRW wheat, soybean, HRW wheat, and spring
wheat basis were steady on Monday. The futures market's move higher was all
about the optimistic comments from President Trump about a trade deal with
China. The U.S. and China leaders still plan to meet at the end of October.
Historically, an "October Surprise" is known as an event that can influence
November elections. The soybean market, farmers, and others are banking on an
October surprise influencing soybean prices in November. Without a trade deal,
the bulls may find it difficult to find support. Monday's corn market relied on
strong weekly export inspections for support. U.S. corn is the most affordable
in the world at roughly $200 per metric ton from the Gulf. Wheat inspections
were strong. Plus, futures spread prices keep firming, indicating an increase
in exports. However, global supplies keep a lid on wheat prices.

   OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial
Average up 515.97 at 46,706.58 and the S&P 500 up 71.12 at 6,735.13. The
10-Year Treasury yield ended at 3.986%. Early Tuesday, the December Dow Jones
Futures are down 47 points. European markets are mixed, with the spot futures
of London's FTSE 100 trading up 0.06%, spot futures of Germany's DAX are
trading down 0.34% and the spot futures of France's CAC 40 Index are down
0.03%. Asian markets are higher, with Japan's Nikkei 225 Index up 0.27% and
China's Shanghai Composite Index up 1.36%.