DTN Early Word Grains 10/08 05:56

DTN Early Word Grains 10/08 05:56 Grains Mixed Awaiting Storm, USDA December corn is up 3/4 cent per bushel, November soybeans are down 1 cent, and December K.C. wheat is down 1 3/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: December corn is up 3/4 cent per bushel, November soybeans are down 1 cent, and December K.C. wheat is down 1 3/4 cents. CME Globex Recap: Equities are mostly weaker with investors unnerved about reports from Prime Minister Johnson's allies that hopes of a Brexit deal at next week's EU summit are effectively dead. This raises the prospect of a hard exit for the U.K. from the EU. In addition, markets don't seem to have much confidence about this week's trade talks between the U.S. and China and whether President Trump would accept a partial deal on things the two sides actually agree on up to this point. Reports suggest the Chinese will not make a deal on one of the largest sticking points, intellectual property theft. If trade talks do not go well, it is likely President Trump will go forward with planned tariff increases on October 15 and December 15. Grain markets are mixed, biding time until the big events later in the week. The winter storm set to sweep the Northern Plains and the October WASDE should have big impact on price direction moving forward. There is plenty of managed fund short exposure across the Ag space to provide additional upside but it would seem unlikely that group would be interested in building long exposure with the growing season in the rearview mirror. OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average down 95.70 at 26,478.02 and the S&P 500 down 13.22 at 2,952.01 while the 10-Year Treasury yield ended at 1.553%. Early Tuesday, the December DJIA futures are down 145 points. Asian markets are higher with Japan's Nikkei 225 up 212.53 (0.99%) and China's Shanghai Composite up 8.38 points (0.29%). European markets are lower with London's FTSE 100 down 18.52 points (-0.26%), Germany's DAX down 120.61 points (-1%) and France's CAC 40 down 51.33 points (-0.93%). The December Euro is up 0.002 at 1.100 and the December U.S. dollar index is down 0.120 at 98.545. The December 30-Year T-Bond is up 9/32nds, while December gold is up $3.80 at $1,508.20 and November crude oil is down $0.25 at $52.50. Soybeans on China's Dalian Exchange were up 0.87% while soybean meal was up 1.88%.