DTN Early Word Grains 12/05 06:00

DTN Early Word Grains 12/05 06:00 Grains Mixed Ahead of Export Sales March corn is down 1/2 cent per bushel, January soybeans are up 3 cents, and March KC wheat is up 3/4 cent. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is down 1/2 cent per bushel, January soybeans are up 3 cents, and March KC wheat is up 3/4 cent. CME Globex Recap: Mostly higher equity markets around the globe overnight with optimism toward comments from "people familiar with the talks" as reported by Bloomberg. On Wednesday, those sources said trade talks remain on track and they expect a phase-one deal to be completed before the December 15 deadline. Those same sources said the only outstanding issues are how to guarantee China's purchase of U.S. ag products and exactly what tariffs will be rolled back which is a little comical considering those seem to be the most important aspects of the phase-one deal. A measured response to any trade deal seems to be the appropriate one until proven otherwise. Grains are mixed with soybeans and wheat higher while corn follows through on weakness from Wednesday. Producers are making their way back to the fields in the Northern Plains following the Thanksgiving-weekend blizzard. Progress will be even slower than before the blizzard as some wait for a freeze and others remain hamstrung by dryer and storage capacity. Discount schedules remain incredibly punitive across the Upper idwest, and as a result, unit train shippers seem hesitant about putting on a big deck with new crop supplies. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average up 146.97 at 27,649.78 and the S&P 500 up 19.56 at 3,093.20 while the 10-Year Treasury yield ended at 1.781%. Early Thursday, the December DJIA futures are up 113 points. Asian markets are higher with Japan's Nikkei 225 up 164.86 (0.71%) and China's Shanghai Composite up 21.35 points (0.74%). European markets are lower with London's FTSE 100 down 6.1 points (-0.08%), Germany's DAX down 1.67 points (-0.02%) and France's CAC 40 down 31.4 points (0.54%). The December Euro is up 0.002 at 1.110 and the December U.S. dollar index is down 0.122 at 97.480. The March 30-Year T-Bond is down 5/32nds, while February gold is down $1.00 at $1,479.20 and January crude oil is up $0.02 at $58.45. Soybeans on China's Dalian Exchange were down 0.43% while soybean meal was down 1.06%.