DTN Early Word Grains         10/21 06:06
   Grains Weaker Ahead of Export Sales

   December corn is down 1 1/2 cents per bushel, November soybeans are down 6
1/4 cents, and December KC wheat is down 6 1/2 cents.

Tregg Cronin
DTN Contributing Analyst

   CME Globex Recap:

   Financial markets were weaker overnight with global equities lower and U.S.
futures suggesting a lower start later Thursday morning. Energy markets were
also weaker with crude oil down 0.6% while products were down over 1.0% and
natural gas was down almost 2.0%. The U.S. Dollar Index was firmer overnight,
trying to close higher for the first session in three. U.S. treasuries are a
touch weaker overnight, continuing their longer-term downtrend dating back to
early August. Metals are mixed with copper and silver lower while gold is
slightly firmer. Grain markets were weaker overnight as well with losses led by
soybean oil and winter wheat as the ag space sees its first corrective trade of
the week. Most markets are sitting on hefty gains this week, so a bit of
back-and-fill is not all that surprising.

   OUTSIDE MARKETS:

   Previous closes on Wednesday showed the Dow Jones Industrial Average up
152.03 at 35,609.34 and the S&P 500 up 16.56 at 4,519.63 while the 10-year
Treasury yield ended at 1.636%. Early Thursday, the December DJIA futures are
down 108 points. Asian markets are mixed with Japan's Nikkei 225 down 546.97
(1.87%) and China's Shanghai Composite up 7.78 points (0.22%). European markets
are lower with London's FTSE 100 down 25.49 points (0.35%), Germany's DAX down
7.37 points (0.05%) and France's CAC 40 down 16.24 points (0.24%). The December
euro is down 0.002 at 1.160 and the December U.S. Dollar Index is up 0.115 at
93.650. The December 30-year T-Bond is down 4/32nds, while December gold is up
$2.40 at $1,787.30 and December crude oil is down $0.48 at $82.94. Soybeans on
China's Dalian Exchange were up 2.46% while soybean meal was up 0.08%.