DTN Closing Grain Comments    10/30 13:48
   Soybeans Whipsaw as China Trade Deal Details Emerge; Grains Fall On
Technical Pressure

   Well for those expecting volatility in the hours immediately following the
long-anticipated meeting between President Trump and President Xi in South
Korea late Wednesday, the overnight trade in the soybean market certainly fit
that bill. January futures traded down as much as 24 cents as details were slow
to emerge before the early morning hours when Treasury Secretary Scott Bessent
laid out the plans for soybean exports to China, discussed in detail below. For
Thursday, grain markets may have been feeling a bit left out from the
spotlight, falling from technical resistance on a lack of upward momentum.
Outside markets for Thursday responded mostly positively to the details that
have thus far emerged from the Trump/Xi meeting, with the Dow Jones Industrial
Average reversing from Wednesday's late-session losses. The U.S. dollar also
extended its rally back toward three month highs, which may have played a role
in a sharp correction in wheat markets.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   December corn closed down 3 3/4 cents and March corn was down 3 cents.
January soybeans closed up 13 1/4 cents and March soybeans were up 10 1/2
cents. December KC wheat closed down 9 3/4 cents, December Chicago wheat was
down 8 cents, December MIAX Minneapolis wheat was down 10 cents.