DTN Early Word Grains 12/20 05:55

DTN Early Word Grains 12/20 05:55 Higher Grains Ahead of Brazilian Rains, Post-Rate Decision March corn was up 3/4 cent, January soybeans were up 1 cent, and March KC wheat was up 4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn was up 3/4 cent, January soybeans were up 1 cent, and March KC wheat was up 4 cents. CME Globex Recap: Stock markets around the globe traded weaker on news of the Federal Reserve raising their benchmark interest rate by 1/4 point, even though the move was widely anticipated. More salient is the crude oil market trading back toward recent lows which could become a deflationary influence in its own right. Grains are all higher this morning as choppy trade continues into the Christmas break next week. OUTSIDE MARKETS: Wednesday closes showed the Dow Jones Industrial Average down 351.98 at 23,323.66, the S&P 500 down 39.20 at 2,506.96 and the 10-yr Treasury yield ended at 2.778%. Early Thursday, DJIA futures are down 19.00 points. Asian markets were lower with Japan's Nikkei 225 down 595.34 points (-2.84%) and China's Shanghai Composite was down 13.30 points (-0.52%). European markets are lower with London's FTSE 100 down 40.55 points (-0.60%), Germany's DAX down 102.65 points (-0.95%), and France's CAC 40 down 66.18 points (-1.39%). The euro was up 0.00965 at 1.14990 and the U.S. dollar index was down 0.7110 at 96.2580. December 30-year T-Bonds were up 23/32nds while February gold was up $2.80 at $1259.00 and February crude oil was down $1.46 at $46.71. Soybeans on China's Dalian Exchange closed up 0.19% and soymeal closed up 0.10%.