DTN Early Word Grains 10/15 05:56

DTN Early Word Grains 10/15 05:56 Grain Setback on Lack of Trade Details December corn is down 1 cent per bushel, November soybeans are down 1/4 cent, and December K.C. wheat is down 2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: December corn is down 1 cent per bushel, November soybeans are down 1/4 cent, and December K.C. wheat is down 2 cents. CME Globex Recap: Global equity markets are mostly higher overnight with investors shifting focus from U.S.-China trade to 'Brexit,' even if for the moment. The EU's chief negotiator said a new withdrawal deal between the U.K. and EU is still possible this week, although time is running thin. Data out overnight included Chinese inflation statistics which showed the strongest inflation in six years as the pork shortage continues to drive up the cost of living. The nearly 70% rise in Chinese pork prices from a year earlier is an astounding figure, and the acceleration from the last few months proves the People's Republic of China still does not have a handle on African Swine Fever. Grain markets are weaker across the board, easing back from the highs made Monday which included several multi-month highs. Traders are anxiously awaiting producers return to the fields and additional harvest activity so a better assessment on yields can be made. For those in the Northern Plains, progress will be nil the rest of this week as they wait on snow to melt from the fields. Ag prices will remain sensitive to any details about the U.S.-China trade deal, although without confirmation from the USDA or hard details from financial media, our markets could begin discounting the odds of the deal happening in 2019. OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average down 29.23 at 26,787.36 and the S&P 500 down 4.12 at 2,970.27 while the 10-Year Treasury yield ended at 1.733%. Early Tuesday, the December DJIA futures are up 93 points. Asian markets are mixed with Japan's Nikkei 225 up 408.34 (1.87%) and China's Shanghai Composite down 16.84 points (-0.56%). European markets are higher with London's FTSE 100 down 5.82 points (-0.08%), Germany's DAX up 54.12 points (0.43%) and France's CAC 40 up 26.44 points (0.47%). The December Euro is down 0.002 at 1.110 and the December U.S. dollar index is up 0.030 at 98.200. The December 30-Year T-Bond is up 15/32nds, while December gold is up $1.70 at $1,499.30 and November crude oil is down $1.13 at $52.46. Soybeans on China's Dalian Exchange were up 0.18% while soybean meal was up 0.5%.