DTN Early Word Grains 10/19 06:02

DTN Early Word Grains 10/19 06:02 China Floats to the Top Again December corn was 3 cents lower, November soybeans were 1 cent lower, and December Chicago wheat was 5 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 3 cents lower, November soybeans were 1 cent lower, and December Chicago wheat was 5 cents lower. CME Globex Recap: China's economy reportedly grew at 6.9% over its third quarter, the first quarterly number below 7.0% since 2009. This set off alarm bells in global commodity markets, warning that China's economy is not responding to recent stimulus actions. Energies and metals were both under pressure overnight into Monday morning, while corn and wheat continued to sink. Surprisingly, soybeans held firm despite pressure from lower Dalian soybeans and Malaysian palm oil. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 74.22 points lower Friday at 17,215.97. The NASDAQ Composite was up 16.59 points at 4,886.69. DJIA futures were 22 points lower overnight. Asian markets were mostly lower though the Nikkei was down 160.57 points at 18,131.23 while China's Shanghai Composite was 4.65 points lower. European markets were also mostly higher. The U.S. dollar index was up 0.345 at 94.885. Crude oil was $0.49 lower at $46.77 while Brent crude was $0.71 lower at $49.75. December gold was $10.70 higher at $1,172.40. Dalian soybean futures Malaysian palm oil futures were both lower.