DTN Early Word Grains 12/10 05:47

DTN Early Word Grains 12/10 05:47 Grain Markets Weaker, Trade Deal Remains Elusive March corn was down 1 1/4 cents, January soybeans were down 6 1/4 cents, and March KC wheat was down 2 1/2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn was down 1 1/4 cents, January soybeans were down 6 1/4 cents, and March KC wheat was down 2 1/2 cents. CME Globex Recap: The global equity rout continued overnight as U.S. stock futures hit the lowest level since October 29 and are just ticks away from the lowest levels since May. Global growth slowdown fears are being stoked amid the trade war between the U.S. and China. Energy markets continue to stabilize above the $50 per barrel level as the U.S. became a net exporter of crude oil for the first time since 1949 last week. Grains are weaker across the board as traders grow impatient over a trade deal. Each passing day without a trade resolution is a day closer to South American new crop. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 558.72 at 24,388.95, the S&P 500 down 62.87 at 2,633.08 while the 10-yr Treasury yield ended at 2.836%. Early Monday, DJIA futures are down 89.00. Asian markets were lower with Japan's Nikkei 225 down 459.18 points (-2.12%) and China's Shanghai Composite was down 21.31 points (-0.82%). European markets are lower with London's FTSE 100 down 22.01 points (-0.32%), Germany's DAX down 47.55 points (-0.48%), and France's CAC 40 down 21.10 points (-0.44%). The euro was down 0.00160 at 1.14140 and the U.S. dollar index was down 0.0730 at 96.6370. December 30-year T-Bonds were down 4/32nds while February gold was up $0.50 at $1253.10 and January crude oil was down $0.75 at $51.86. Soybeans on China's Dalian Exchange closed down 0.25% and soymeal closed down 0.65%.