DTN Closing Grain Comments    11/06 13:47
   Risk-Off Mindset Sinks Row-Crop Futures on Thursday

   Both financial and agricultural markets faced widespread selling pressure on
Thursday with several moving parts to point to as a source of general
nervousness across the trade. First, row-crop futures had become very
overbought in the short term from a technical perspective with momentum based
indicators likely piling into sales as prices turned lower throughout Thursday
morning. Second, futures traders tend to want answers now rather than later and
with the government shutdown it is very difficult to gauge if China has been
buying U.S. soybeans and to what degree and the rapid growing expense of U.S.
soybeans on an FOB port basis may have at last caught up with the futures
market on Thursday. In other news, Wednesday's hearing by the Supreme Court
regarding the legality of the Trump administration's sweeping tariffs has added
a layer of volatility to the market, although a decision is still pending in
regard to that.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   December corn closed down 6 1/2 cents and March corn was down 6 1/2 cents.
January soybeans closed down 26 3/4 cents and March soybeans were down 24 1/2
cents. December KC wheat closed down 17 3/4 cents, December Chicago wheat was
down 19 1/4 cents, December MIAX Minneapolis wheat was up 3/4 cents.