DTN Early Word Grains 10/25 06:00

DTN Early Word Grains 10/25 06:00 Grains Mixed, Headed for Lower Weekly Closes December corn is up 1/2 cent per bushel, November soybeans are up 1/2 cent, and December K.C. wheat is up 1/4 cent. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: December corn is up 1/2 cent per bushel, November soybeans are up 1/2 cent, and December K.C. wheat is up 1/4 cent. CME Globex Recap: Very quiet equity markets overnight with investors awaiting the outcome of the high-level phone conference scheduled for later Friday between U.S. Trade Representative Lighthizer, Treasury Secretary Mnuchin and Chinese Vice Premier Liu. Time is of the essence if the two sides are going to get a deal done before the APEC economic summit in Chile next month. China has finally put a number on purchases it is willing to agree to at $20 billion a year, although this is well short of the levels thrown around earlier this month and would be roughly back to pre-trade war levels. The proposed 15% tariff on Chinese goods by the United States scheduled for December 15 is still up in the air and is likely one of the major negotiating points on the call. Mixed grain prices overnight in mostly tight ranges with most contracts working on lower weekly closes. Decent harvest progress should be made this weekend if fields in the Northern Plains get fit before the cool down Sunday. Moisture prospects turn up late in the weekend and again next week east of the Mississippi River which should slow efforts there. Over half of the soybean and corn harvest will occur in November this year, easily putting 2019 down as one of the slowest years on record. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average down 28.42 at 26,805.53 and the S&P 500 up 5.77 at 3,004.52 while the 10-Year Treasury yield ended at 1.766%. Early Friday, the December DJIA futures are down 5 points. Asian markets are higher with Japan's Nikkei 225 up 49.21 (0.22%) and China's Shanghai Composite up 14.01 points (0.48%). European markets are lower with London's FTSE 100 down 23.93 points (-0.33%), Germany's DAX down 23.66 points (-0.18%) and France's CAC 40 up 0.58 points (0.01%). The December Euro is up 0.001 at 1.120 and the December U.S. dollar index is down 0.040 at 97.365. The December 30-Year T-Bond is down 3/32nds, while December gold is up $3.00 at $1,507.70 and December crude oil is down $0.05 at $56.18. Soybeans on China's Dalian Exchange were up 0.03% while soybean meal was down 0.03%.