DTN Early Word Grains         12/15 05:44
   The Wish for a Row-Crop Market Santa Claus Rally Starts Now

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

Mike McGinnis
DTN Contributing Analyst

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

   CME GLOBEX RECAP: On Friday, the corn, soybean, and wheat markets
experienced a broad-based sell-off. March corn closed down 5 3/4 cents, January
soybeans dropped 16 3/4 cents, and March KC wheat declined 4 1/4 cents.
Macroeconomic markets also fell. Generally, the bearish tone in the soybean
market pulled the corn market lower. Wheat traders search for bullish news but
haven't found it to counter the bears. With Christmas nearing, traders may
start looking for a 'Santa Claus' rally. Monday, a weekly export sales report
from the USDA, covering data up to November 20, will be released at 7:30 a.m.
CST, updating export figures for U.S. commodities. Additionally, the latest
Weekly Export Inspection Report will be issued. Monday afternoon, the
Commitments of Traders Report will reveal fund holdings as of November 25.

   OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial
Average down 245.96 at 48,458.05 and the S&P 500 down 73.59 at 6,827.41. The
10-Year Treasury yield ended at 4.194%. Early Monday, the December Dow Jones
Futures are up 237 points. European markets are higher with the spot futures of
London's FTSE 100 trading up 0.9%, spot futures of Germany's DAX are trading up
0.43% and the spot futures of France's CAC 40 Index are up 1.05%. Asian markets
are lower, with Japan's Nikkei 225 Index down 1.31% and China's Shanghai
Composite Index down 0.55%.