DTN Early Word Grains 10/28 05:55

DTN Early Word Grains 10/28 05:55 Mixed Grains as Harvest Progress Remains the Focus December corn is down 1 3/4 cents per bushel, November soybeans are up 2 1/2 cents, and December K.C. wheat is down 2 3/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: December corn is down 1 3/4 cents per bushel, November soybeans are up 2 1/2 cents, and December K.C. wheat is down 2 3/4 cents. CME Globex Recap: Mixed equities overnight as investors get set for a big week in financial markets. Wednesday will see the latest rate decision by the Federal Reserve, expected to produce a 25-basis point cut, putting benchmark interest rates at 1.50-1.75%. We will also see Q3 GDP data for the United States as well as the October payroll report. Earnings season rolls on with another 158 of the S&P 500 companies announcing earnings results. Markets will also be sensitive to any news related to U.S.-China trade talks following Friday's optimism. White House trade advisor Peter Navarro said, "We're on a glide path to Chile and the meeting of the two presidents in mid-November," referring to the APEC economic summit next month. Grains are mixed to lower overnight with soybeans posting small gains while corn and wheat have been weaker throughout the evening session. The focus in the U.S. remains on harvest pace and yield reports, although weak demand remains a concern. South American weather remains mostly benign but will take on added importance as the calendar flips to November. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 152.53 at 26,958.06 and the S&P 500 up 12.26 at 3,010.29 while the 10-Year Treasury yield ended at 1.801%. Early Monday, the December DJIA futures are up 80 points. Asian markets are higher with Japan's Nikkei 225 up 67.46 (0.3%) and China's Shanghai Composite up 25.12 points (0.85%). European markets are mixed with London's FTSE 100 down 24.64 points (-0.34%), Germany's DAX up 31.06 points (0.24%) and France's CAC 40 down 3.57 points (-0.06%). The December Euro is up 0.001 at 1.110 and the December U.S. dollar index is down 0.044 at 97.555. The December 30-Year T-Bond is down 21/32nds, while December gold is up $2.30 at $1,507.60 and December crude oil is down $0.21 at $56.45. Soybeans on China's Dalian Exchange were down 0.62% while soybean meal was down 1.35%.