DTN Early Word Grains 11/20 06:03

DTN Early Word Grains 11/20 06:03 Grains Mixed on Weather, Trade December corn is down 1 3/4 cents per bushel, January soybeans are up 2 1/2 cents, and December KC wheat is down 3 1/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: December corn is down 1 3/4 cents per bushel, January soybeans are up 2 1/2 cents, and December KC wheat is down 3 1/4 cents. CME Globex Recap: Global equities are weaker overnight with European indices falling to their lowest level in more than two weeks on fresh concerns over relations between the U.S. and China. On Tuesday, the U.S. Senate passed a bill which would force the Trump Administration to annually re-examine Hong Kong's special status, rankling Chinese officials as protests remain out of control in the Asian financial center. President Trump followed the measure up with comments suggesting he is prepared to raise tariffs if a deal cannot be reached to end the trade war. Every positive development on trade seems to be followed by a negative one in these negotiations now in the 16th month. Grains are mixed overnight with corn and wheat lower while soybeans and oil post gains. Downtrends remain the dominant price action on most contracts with sizable upside gains needed to flip trends higher. This week marks the last full week of trade before the Thanksgiving holiday, after which markets will feature low-volume trade with half-staffed trading desks. Price drivers remain U.S. harvest progress, South American weather and the constant back-and-forth over the trade war. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average down 102.20 at 27,934.02 and the S&P 500 down 1.85 at 3,122.03 while the 10-Year Treasury yield ended at 1.786%. Early Wednesday, the December DJIA futures are down 104 points. Asian markets are lower with Japan's Nikkei 225 down 144.08 (-0.62%) and China's Shanghai Composite down 22.94 points (-0.78%). European markets are lower with London's FTSE 100 down 99.94 points (-1.36%), Germany's DAX down 129.09 points (-0.98%) and France's CAC 40 down 44.18 points (-0.75%). The December Euro is down 0.002 at 1.110 and the December U.S. dollar index is up 0.143 at 97.885. The December 30-Year T-Bond is up 28/32nds, while December gold is up $2.00 at $1,476.30 and January crude oil is up $0.11 at $55.46. Soybeans on China's Dalian Exchange were down 0.03% while soybean meal was down 0.07%.