DTN Early Word Grains 10/14 05:58

DTN Early Word Grains 10/14 05:58 Grain Rally Continues on Trade, Storm Fallout December corn is up 3/4 cent per bushel, November soybeans are up 1 1/2 cents, and December K.C. wheat is up 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 up 1 1/2 cents, and December K.C. wheat is up 4 cents. CME Globex Recap: Mixed to weaker global equity markets as the euphoria surrounding last week's "mini-deal" or "phase-one" of the U.S.-China trade deal seems to be fading a bit. A host of analysts have been out over the weekend throwing cold water on the optimism the Trump Administration was pitching Friday, and Chinese official media has made no mention of Beijing pledging to boost ag purchases by $50 billion. President Trump said the deal could take three to five weeks to put in paper, something ag markets will be quick to discount if the agreement doesn't pass the smell test. Despite this, grain markets are still posting gains to start the week, following through on the impressive rally Friday. Harvest efforts should resume in the heart of the Corn Belt this week with a week of favorable conditions forecast. Northern Plains harvest should be delayed another week at least as snow still needs to melt and field conditions need to firm up before equipment can be supported. Far too early to estimate losses from the late week storm with quality likely to be impacted more than outright bushel losses from unharvest-able crop. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 319.92 at 26,816.59 and the S&P 500 up 32.14 at 2,938.13 while the 10-Year Treasury yield ended at 1.752%. Early Monday, the December DJIA futures are down 87 points. Asian markets are higher with Japan's Nikkei closed and China's Shanghai Composite up 34.23 points (1.15%). European markets are lower with London's FTSE 100 down 43.89 points (-0.61%), Germany's DAX down 94.89 points (-0.76%) and France's CAC 40 down 47.93 points (-0.85%). The December Euro is down 0.001 at 1.110 and the December U.S. dollar index is up 0.125 at 98.130. The December 30-Year T-Bond is up 34/32nds, while December gold is up $9.10 at $1,497.80 and November crude oil is down $0.98 at $53.72. Soybeans on China's Dalian Exchange were down 0.42% while soybean meal was down 0.3%.