DTN Early Word Grains 10/03 05:55

DTN Early Word Grains 10/03 05:55 Grains Softer Awaiting Harvest, Trade Developments December corn is down 1/4 cent per bushel, November soybeans are down 3/4 cent, and December K.C. wheat is down 2 3/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: December corn is down 1/4 cent per bushel, November soybeans are down 3/4 cent, and December K.C. wheat is down 2 3/4 cents. CME Globex Recap: Equity markets are mixed to lower overnight, especially across Europe where German equities were down almost 3.0% on the World Trade Organization ruling which green-lighted the United States to impose retaliatory tariffs after the E.U. gave illegal support to Airbus. If the U.S. follows through, it could derail any sort of trade deal between the U.S. and E.U., adding another roadblock to global trade already suffering due to the U.S.-China trade spat. Energy markets continue to trade weaker with spot crude futures looking to close lower for the eighth straight session to the lowest levels since early August. Grains are mostly weaker as the holding pattern ahead of harvest and additional trade talks next week continues. Social media continues to talk about lower yield reports from last year although this gets tricky as yields should be below last year but where they are relative to expectations is the important part. The delayed nature of this year's corn and soybean crop could place less importance on the October WASDE yields than usual, but the direction of change from the August/September WASDE will be crucial. 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 Thursday, the December DJIA futures are up 70 points. Asian markets are lower with Japan's Nikkei 225 down 436.87 (-2.01%) and Chinese markets closed. European markets are lower with London's FTSE 100 down 43.88 points (-0.62%), Germany's DAX down 338.58 points (-2.76%) and France's CAC 40 up 35.73 points (0.66%). The December Euro is unchanged at 1.100 and the December U.S. dollar index is down 0.004 at 98.685. The December 30-Year T-Bond is up 15/32nds, while December gold is up $0.90 at $1,508.80 and November crude oil is down $0.20 at $52.44. The Dalian Exchange is closed for holiday.