DTN Early Word Grains 12/19 05:58

DTN Early Word Grains 12/19 05:58 Grains Mixed as Wheat Continues Rally March corn is down 3/4 cent per bushel, January soybeans are down 5 1/4 cents, and March KC wheat is up 2 3/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is down 3/4 cent per bushel, January soybeans are down 5 1/4 cents, and March KC wheat is up 2 3/4 cents. CME Globex Recap: On Wednesday evening, President Trump became the third president in U.S. history to be impeached when the House of Representatives charged him under two separate articles for abusing his power. Fortunately, financial markets have barely batted an eye, probably tied to the idea the impeachment will not go through in the Senate. Nonetheless, the impeachment will be center stage for the foreseeable future which could delay the actual business of Congress like getting trade agreements signed. In addition, Congress will leave for Christmas break on Friday. Ag markets are mixed with wheat bouncing back overnight while row crops continue to sport small losses. Grains feel as though they will be supported on setbacks with the managed fund community short, volume subdued and news flow mostly positive. Producers are expected to remain hesitant sellers into the new year, awaiting the January WASDE report for more clarification on 2019/20 production and next year's winter wheat acreage. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average down 27.88 at 28,239.28 and the S&P 500 down 1.38 at 3,192.52 while the 10-Year Treasury yield ended at 1.924%. Early Thursday, the December DJIA futures are up 37 points. Asian markets are mixed with Japan's Nikkei 225 down 69.58 (-0.29%) and China's Shanghai Composite up 0.02 points (0.01%). European markets are lower with London's FTSE 100 down 2.36 points (-0.03%), Germany's DAX down 42.89 points (-0.32%) and France's CAC 40 down 2.47 points (-0.04%). The March Euro is up 0.002 at 1.120 and the March U.S. dollar index is down 0.093 at 96.870. The March 30-Year T-Bond is down 13/32nds, while February gold is down $0.40 at $1,478.30 and January crude oil is up $0.01 at $60.94. Soybeans on China's Dalian Exchange were down 0.23% while soybean meal was down 0.33%.