DTN Early Word Grains 11/07 05:58

DTN Early Word Grains 11/07 05:58 Grains Turn Higher on Trade News December corn is up 3/4 cent per bushel, January soybeans are up 3 3/4 cents, 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 3/4 cent per bushel, January soybeans are up 3 3/4 cents, and December K.C. wheat is up 1/4 cent. CME Globex Recap: Equity bourses are higher around the globe, boosted by news China and the U.S. were moving toward a de-escalation in the trade war as both sides agree to remove tariffs enacted over the last 18-months. A Chinese Commerce Ministry spokesman said both sides had agreed "to remove some of the additional tariffs in phases" and that removing tariffs gradually "can help to stabilize market expectations." Both sides would still want to be able to claim victory and show the maneuvering of the last year-and-a-half wasn't a waste, so the major concessions will be most interesting. Grain markets are higher on the trade war news but remain mostly in recent ranges ahead of the November WASDE on Friday. Friday will be the last chance for supply bulls to make a meaningful case until the January WASDE. Post-WASDE, harvest progress and South American weather will be the main price drivers heading into the holidays. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average down 0.07 at 27,492.56 and the S&P 500 up 2.16 at 3,074.62 while the 10-Year Treasury yield ended at 1.814%. Early Thursday, the December DJIA futures are up 148 points. Asian markets are higher with Japan's Nikkei 225 up 26.5 (0.11%) and China's Shanghai Composite up 0.12 points (0.01%). European markets are higher with London's FTSE 100 up 9.88 points (0.13%), Germany's DAX up 94.68 points (0.72%) and France's CAC 40 up 9.64 points (0.16%). The December Euro is up 0.001 at 1.110 and the December U.S. dollar index is down 0.059 at 97.705. The December 30-Year T-Bond is down 45/32nds, while December gold is down $8.70 at $1,484.40 and December crude oil is up $0.75 at $57.10. Soybeans on China's Dalian Exchange were up 0.89% while soybean meal was down 0.24%.