DTN Early Word Grains 11/06 05:55

DTN Early Word Grains 11/06 05:55 Grains Mostly Higher at Midweek December corn is up 1 1/4 cents per bushel, January soybeans are unchanged, and December K.C. wheat is up 1 1/2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: December corn is up 1 1/4 cents per bushel, January soybeans are unchanged, and December K.C. wheat is up 1 1/2 cents. CME Globex Recap: Global equity markets are quiet overnight, easing from a fresh record high the previous session as the ping pong match that is U.S.-China trade negotiations flips sentiment once again. After the U.S. said it might be willing to roll back tariffs on Chinese goods to ensure a trade deal is signed this month, Chinese officials on Tuesday seemed to suggest President Trump needed to scrap the upcoming December 15 tariff hike as well as roll back the September 1 tariff of 15% on $110 billion of Chinese goods and reduce the 25% tariff on the original $250 billion of Chinese goods. Whether these demands become deal-breakers or not remains to be seen but the development is a good example of how both sides are unwilling to surrender an inch but expect a mile. Global equities have certainly been positioning for a trade deal to be signed in the next 2-3 weeks. Mixed to higher grain markets overnight as traders keep powder dry for Friday's WASDE report. The November WASDE will be the last production updates to U.S. corn and soybean crops until January which places a decent amount of importance on directional changes from the USDA. If cuts are made to production Friday, the trade will assume additional cuts for January and vice versa. Corn demand changes will be equally as important, setting the stage heading into the holiday doldrums between Thanksgiving and Christmas. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 30.52 at 27,492.63 and the S&P 500 down 3.65 at 3,078.27 while the 10-Year Treasury yield ended at 1.866%. Early Wednesday, the December DJIA futures are down 2 points. Asian markets are mixed with Japan's Nikkei 225 up 51.83 (0.22%) and China's Shanghai Composite down 12.97 points (-0.43%). European markets are lower with London's FTSE 100 down 22.78 points (-0.31%), Germany's DAX down 16.97 points (-0.13%) and France's CAC 40 up 2.22 points (0.04%). The December Euro is up 0.002 at 1.110 and the December U.S. dollar index is down 0.170 at 97.635. The December 30-Year T-Bond is up 14/32nds, while December gold is up $6.40 at $1,490.10 and December crude oil is down $0.21 at $57.02. Soybeans on China's Dalian Exchange were down 0.44% while soybean meal was down 1.08%.