DTN Early Word Grains 10/22 05:54

DTN Early Word Grains 10/22 05:54 Grains Rally Overnight Led by Soybeans, KC Wheat December corn is up 2 3/4 cents per bushel, November soybeans are up 10 3/4 cents, and December K.C. wheat is up 5 1/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: December corn is up 2 3/4 cents per bushel, November soybeans are up 10 3/4 cents, and December K.C. wheat is up 5 1/4 cents. CME Globex Recap: Equities are lightly mixed ahead of the 'Brexit' vote beginning in Parliament Tuesday and should be completed by Thursday. If approved, the withdrawal bill would go to the House of Lords for approval in time for the October 31 deadline. Even if the vote does not go through, there seems to be an appetite for an extension beyond the October 31 deadline, avoiding the "hard Brexit." Grain markets are higher across the board, led by soybeans and Kansas City wheat which began rallying around midnight and haven't looked back since. Delayed harvest remains supportive, especially as forecasts show no big warmup through the end of October which will keep field conditions slow to dry. Nothing fresh on the trade front with hopes still high for some sort of a deal to be inked at the economic summit in Chile next week. President Trump has continued to send tweets suggesting a deal is looking good, but markets have seen their fair share of those in 2019. If soybean contracts are able to stake out new highs for the move, which would also be new four and seven-month highs, it would likely signal funds are comfortable adding to their newfound long positions as we move toward the South American growing season. OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average up 57.44 at 26,827.64 and the S&P 500 up 20.52 at 2,986.20 while the 10-Year Treasury yield ended at 1.792%. Early Tuesday, the December DJIA futures are down 5 points. Asian markets are higher with Japan's Nikkei 225 up 56.22 (0.25%) and China's Shanghai Composite up 14.76 points (0.5%). European markets are higher with London's FTSE 100 up 22.81 points (0.32%), Germany's DAX up 11.69 points (0.09%) and France's CAC 40 down 12.44 points (-0.22%). The December Euro is down 0.001 at 1.120 and the December U.S. dollar index is up 0.070 at 97.120. The December 30-Year T-Bond is up 10/32nds, while December gold is up $3.10 at $1,491.20 and November crude oil is up $0.18 at $53.49. Soybeans on China's Dalian Exchange were down 0.15% while soybean meal was up 0.79%.