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DTN Early Word Grains         12/19 05:57
   Wheat Giveth and Wheat Taketh Away

   March corn was 4 cents lower, January soybeans 5 cents lower, and March
Chicago wheat 15 cents lower.

By Darin Newsom
DTN Senior Analyst

6:00 a.m. CME Globex:   March corn was 4 cents lower, January soybeans 5 cents
lower, and March Chicago wheat 15 cents lower.

CME Globex Recap:   After posting strong gains much of this past week, wheat
contracts were showing double-digit losses early Friday morning. Spillover
pressure had both corn and soybeans on the defensive, with selling in all three
tied to the renewed strength of the U.S. dollar index. Energies and metals were
higher, continuing this week's rallies.

OUTSIDE MARKETS:   The Dow Jones Industrial Average closed 421.28 points higher
Thursday at 17,778.15. Dow Jones futures were 65 points higher early Friday.
Asian markets were higher with the Nikkei up 411.35 points at 17,621.40 while
the Hong Kong market was up 284.42 points. European markets were mostly lower.
The overnight crude oil market was $0.48 higher at $54.59 while Brent crude was
$0.53 higher at $59.80. The February gold contract was $2.20 higher at
$1,197.00 while the U.S. dollar index was 0.176 higher at 89.411. Soybeans at
the Dalian Exchange were higher while Malaysian palm oil contracts were also
higher.
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