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DTN Early Word Grains         12/22 05:58
   Grains Mostly Lower; Wheat Fights Back

   March corn was 1 cent lower, January soybeans 2 cents lower, and March
Chicago wheat 10 cents higher.

By Darin Newsom
DTN Senior Analyst

6:00 a.m. CME Globex:   March corn was 1 cent lower, January soybeans 2 cents
lower, and March Chicago wheat 10 cents higher.

CME Globex Recap:   Chicago wheat posted a wide trading range, moving 11 cents
lower overnight before fighting back to a 12-cent gain. Corn and soybeans were
quieter, posting modest 2-cent and 5-cent trading ranges, respectively. Outside
markets were mostly higher, with the exception being another sharp sell-off (17
cents) in natural gas. The U.S. dollar index was giving back a small part of
last week's solid rally.

OUTSIDE MARKETS:   The Dow Jones Industrial Average closed 26.65 points higher
Friday at 17,804.80. Dow Jones futures were 42 points higher early Monday.
Asian markets were mostly higher with the Nikkei up 13.74 points at 17,635.14
while the Hong Kong market was up 291.94 points. European markets were higher.
The overnight crude oil market was $0.20 higher at $57.33 while Brent crude was
$0.51 higher at $61.89. The February gold contract was $0.70 higher at
$1,196.70 while the U.S. dollar index was 0.117 lower at 89.481. Soybeans at
the Dalian Exchange were lower while Malaysian palm oil contracts were higher.
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