DTN Closing Grain Comments    11/06 13:46
   Soybeans End Week on a High Note With Late Session Comeback

   Row crop futures were mixed through Friday's session with corn continuing to
alternate higher and lower sessions without much in the way of sustained buying
to break the market out of its recent lower spell. Soybeans appeared to be
headed for a 10th straight lower session before mounting an impressive reversal
over the last hour or so of trade, closing a rough week for price action with a
glimmer of bullish momentum. Lastly, wheat futures moved to fresh lows early on
Friday ahead of trilateral Black Sea negotiations next weekend, but did manage
to recover most of the day's losses by the close. Outside markets were quiet
with equities recovering for the most part from Thursday's blowout to the
downside. A sharply higher U.S. dollar in response to a much
better-than-expected October jobs report was also a headwind for row crop
futures to close the week. Energy prices initially traded lower on Friday in
response to reports that the U.S. and Iran have made progress toward an
agreement to end the war. It will surely be met with skepticism as all prior
attempts through the past eight months have fallen short, which was apparent in
a recovery in energy futures by Friday afternoon.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   December corn closed up 1 1/2 cents and March corn was up 3/4 cents. January
soybeans closed up 5 1/2 cents and March soybeans were up 3 cents. December KC
wheat closed down 3 1/4 cents, December Chicago wheat was down 8 cents,
December MIAX Minneapolis wheat was down 4 cents.