DTN Early Word Grains         12/05 05:54
   Traders Position Ahead of Next Week's December WASDE Data

   March corn is down 1 1/4 cents per bushel, January soybeans are down 2 3/4
cents, March KC wheat is down 1 1/2 cents, March Chicago wheat is down 3 cents,
and MIAX March Minneapolis wheat is up 0.0100 cents.

Mike McGinnis
DTN Contributing Analyst

   MORNING GLOBEX NET CHANGES: March corn is down 1 1/4 cents per bushel,
January soybeans are down 2 3/4 cents, March KC wheat is down 1 1/2 cents,
March Chicago wheat is down 3 cents, and MIAX March Minneapolis wheat is up
0.0100 cents.

   CME GLOBEX RECAP: Corn, soybean and wheat prices all declined early Friday.
On Thursday, all three markets closed higher. Corn, soybean, soft red winter
wheat, and spring wheat basis were steady on Thursday, and hard red winter
wheat basis was weaker. Traders end the week by positioning themselves ahead of
next Tuesday's USDA Crop Production and WASDE Reports. USDA is known not to
adjust U.S. production estimates in its December report. It will adjust ending
stocks. Bullish corn traders remain confident as total corn sales commitments
remain well above a year ago. Additionally, the USDA reported a daily flash
sale of corn to Mexico and Colombia on Thursday.

   OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial
Average down 31.96 at 47,850.94 and the S&P 500 up 7.40 at 6,857.12. The
10-Year Treasury yield ended at 4.108%. Early Friday, the December Dow Jones
Futures are down 9 points. European markets are higher, with the spot futures
of London's FTSE 100 trading up 0.02%, spot futures of Germany's DAX are
trading up 0.57% and the spot futures of France's CAC 40 Index are up 0.39%.
Asian markets are mixed, with Japan's Nikkei 225 Index down 1.05% and China's
Shanghai Composite Index up 0.7%.