DTN Early Word Grains 10/01 05:58

DTN Early Word Grains 10/01 05:58 Grains Mixed to Begin New Month and Quarter December corn is down 1 3/4 cents per bushel, November soybeans are up 1 1/2 cents, and December K.C. wheat is down 4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: December corn is down 1 3/4 cents per bushel, November soybeans are up 1 1/2 cents, and December K.C. wheat is down 4 cents. CME Globex Recap: Mixed equity markets as markets are somewhat muted with China on holiday all week. Saudi Aramco said it restored full oil production and capacity to the levels held before the drone attacks on its facilities on September 14. This is accurately reflected in crude oil prices, erasing the entire drone-strike-spike to trade to the lowest spot level since September 4. The fears of surging gasoline prices and limited global production for months were obviously overblown. Grain markets are mixed with corn and winter wheat lower while spring wheat and soybeans retain gains. Supportive data from the USDA along with chatter of additional Chinese soy cargo purchases and a rallying ethanol market were all bullish inputs Monday. The result has been the highest soybean prices since the end of July and the highest corn prices since the middle of August. While almost the entire corn and soybean crop have yet to be harvested, our grain markets certainly have a different feel to them today than they did last week with carry-in supplies reduced meaningfully. The supply changes raise the importance of the October WASDE and any changes the USDA makes to yields. In addition, South American weather also has much less margin for error if the U.S. balance sheet is going to keep tightening. OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average up 96.58 at 26,916.83 and the S&P 500 up 14.95 at 2,961.79 while the 10-Year Treasury yield ended at 1.675%. Early Tuesday, the December DJIA futures are up 76 points. Asian markets are mixed with Japan's Nikkei 225 up 129.4 (0.59%) and China's Shanghai Composite down 26.98 points (-0.92%). European markets are lower with London's FTSE 100 down 24.87 points (-0.34%), Germany's DAX down 18.9 points (-0.15%) and France's CAC 40 down 12.31 points (-0.22%). The December Euro is unchanged at 1.100 and the December U.S. dollar index is up 0.104 at 99.125. The December 30-Year T-Bond is down 1 11/32nds, while December gold is up $1.00 at $1,473.90 and November crude oil is up $0.53 at $54.60. Soybeans on China's Dalian Exchange were down 0.68% while soybean meal was down 0.63%.