DTN Early Word Grains 11/26 05:57

DTN Early Word Grains 11/26 05:57 Grains Mixed to Weaker as Wheat Takes Breather December corn is down 3/4 cents per bushel, January soybeans are steady, and March KC wheat is down 5 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: December corn is down 3/4 cents per bushel, January soybeans are steady, and March KC wheat is down 5 cents. CME Globex Recap: Financial markets are quiet overnight as investors await fresh impetus to influence direction. On the trade front, markets are waiting for President Trump to announce whether he will sign the Hong Kong bill Congress passed almost unanimously last week. If President Trump signs the bill, it is likely to anger Chinese officials and create one more road black on negotiations. If President Trump opts not to sign the bill, however, it would certainly be viewed as bending a knee to the demands of China as they try to contain the inferno raging in one of the world's major financial centers. Grain markets are mostly lower overnight with weakness led by Chicago and Kansas City wheat in a slightly reversal of Monday's price action. Funds remain net short all major ag markets, and Monday is a good reminder of what can happen when this group wants out amid lighter volume trade in a holiday week. Price drivers remain the same with anecdotal yield reports from the U.S. still filing in, benign South American weather and no change to trade talks from last week. OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average up 190.85 at 28,066.47 and the S&P 500 up 23.35 at 3,110.29 while the 10-Year Treasury yield ended at 1.764%. Early Tuesday, the December DJIA futures are down 6 points. Asian markets are higher with Japan's Nikkei 225 up 80.51 (0.35%) and China's Shanghai Composite up 0.89 points (0.03%). European markets are lower with London's FTSE 100 up 6.8 points (0.09%), Germany's DAX down 39.57 points (-0.3%) and France's CAC 40 down 7.68 points (-0.13%). The December Euro is up 0.001 at 1.100 and the December U.S. dollar index is down 0.018 at 98.220. The December 30-Year T-Bond is up 15/32nds, while December gold is up $1.10 at $1,458.00 and January crude oil is up $0.08 at $58.09. Soybeans on China's Dalian Exchange were up 0.09% while soybean meal was up 0.38%.