DTN Early Word Grains 12/18 05:46

DTN Early Word Grains 12/18 05:46 Grains Mixed as China, MFP Headlines Dominate March corn was up 1/4 cent, January soybeans were up 2 1/4 cents, and March KC wheat was down 3 1/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn was up 1/4 cent, January soybeans were up 2 1/4 cents, and March KC wheat was down 3 1/4 cents. CME Globex Recap: Global equity markets stabilized overnight but energy markets continued their selloff. Front-month crude oil futures traded down to $47.84 per barrel overnight, the lowest trade since September 2017 as the OPEC cuts are not having the intended effect. Crude below $50/barrel (bbl) will be a drag on the entire commodity space. Grains are mixed to better this morning as the waiting game with China on additional ag purchases continues. Trading volume will be light through the end of the year. OUTSIDE MARKETS: Monday closes showed the Dow Jones Industrial Average down 507.53 at 23,592.98 and the S&P 500 down 54.01 at 2,545.94, while the 10-yr Treasury yield ended at 2.853%. Early Tuesday, DJIA futures are up 79.00. Asian markets were lower with Japan's Nikkei 225 down 391.43 points (-1.82%) and China's Shanghai Composite was down 21.32 points (-0.82%). European markets are mixed with London's FTSE 100 down 22.17 points (-0.33%), Germany's DAX up 0.39.31 points (0.36%), and France's CAC 40 down 5.53 points (-0.12%). The euro was up 0.00270 at 1.14090 and the U.S. dollar index was down 0.2820 at 96.8480. December 30-year T-Bonds were up 15/32nds while February gold was up $1.40 at $1253.20 and February crude oil was down at $48.68. Soybeans on China's Dalian Exchange closed down 0.06% and soymeal closed down 0.46%.