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DTN Closing Grain Comments    11/07 14:51
   Soybean Futures Show Strength Despite Likely Record Production

   The market tone for Thursday was much more subdued compared to Wednesday as
traders have now had a full day to digest the implications of a second Trump
term. Soybeans have had a very impressive turn, posting over a 40-cent move
from Wednesday morning's bottom to Thursday afternoon's high. Demand prospects
for U.S. grains remain strong at seasonally low prices, this in combination
with potential supply cuts in Friday's USDA report has buyers taking interest.
The plant oil complex was very strong Thursday again led by palm oil surging
higher. As a result, soybean oil posted a new high for its move and now sits at
its highest price level since early July. Outside markets were quiet Thursday
with the Dow Jones posting marginal gains to follow up Wednesday's huge day.
Meanwhile the U.S. dollar has reversed most of the gains made following
Tuesday's election results.

Rhett Montgomery
DTN Lead Analyst

GENERAL COMMENTS:

   December corn closed up 1 1/4 cents and March corn was up 1 1/2 cents.
January soybeans closed up 22 1/2 cents and March soybeans were up 22 3/4
cents. December KC wheat closed down 5 cents, December Chicago wheat was down 1
3/4 cents and December Minneapolis wheat was down 3 cents.
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