DTN Early Word Grains 11/09 05:55

DTN Early Word Grains 11/09 05:55 President-Elect Panic Subsides December corn was 4 cents lower, January soybeans were 8 cents lower, and December Chicago wheat was 5 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 4 cents lower, January soybeans were 8 cents lower, and December Chicago wheat was 5 cents lower. CME Globex Recap: Global markets panicked after President-Elect Trump took control of the electoral vote Tuesday night resulting in a sell-off by DJIA futures of more than 800 points, a drop in the U.S. dollar index of almost 2.000, and a $64 rally in gold. However, markets had calmed through early Wednesday morning, though most could quickly regain downside momentum. Grains were pulled lower with soybeans posting a strong double-digit loss, while more muted selling was seen in corn and soybeans. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 73.14 points (0.4%) higher at 18,332.74, the NASDAQ Composite gained 27.32 points (0.5%) to 5,193.49, and the S&P 500 rallied 8.04 points (0.4%) to close at 2,139.56 Tuesday. DJIA futures were 330 points lower Wednesday morning after falling as much as 867 points following the U.S. election. Asian markets were lower with Japan's Nikkei down 919.84 points (5.4%), Hong Kong's Hang Seng Index fell 494.28 points (2.2%), and China's Shanghai Composite lost 19.52 points (0.6%). European markets were also lower Wednesday with London's FTSE 100 down 8.56 points (0.1%), Germany's DAX off 97.45 points (0.9%), and France's CAC 40 falling 49.49 points 1.1%). The U.S. dollar index was 0.600 lower at 97.261. Crude oil gained $0.29 to $45.27 while Brent crude added $0.36 to $46.40. December gold was $31.30 higher at $1,305.80. China's Dalian soybean and Malaysian palm oil futures were both quietly higher overnight.