DTN Early Word Grains 12/20 05:58

DTN Early Word Grains 12/20 05:58 Grains Higher Ahead of Holiday Week March corn is up 1 cent per bushel, January soybeans are up 1 3/4 cents, and March KC wheat is up 3 1/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is up 1 cent per bushel, January soybeans are up 1 3/4 cents, and March KC wheat is up 3 1/4 cents. CME Globex Recap: Global equities are lightly mixed overnight but again do not seem to care about President Trump being impeached in the last 24-hours. The market's lack of reaction would seem to suggest traders recognize the trial in the Senate, if it ever happens, will not lead to conviction and President Trump should remain in office through the 2020 election. Elsewhere, Treasury Secretary Mnuchin said on Thursday that the phase-one trade deal with China is currently going through technical and legal review and will be released and signed in early January as expected. The sooner the details of the deal are released, the more confidence it should instill in our grain markets. Higher grain markets overnight as trends remain sideways to higher. News flow remains positive with trades looking forward to commitments of traders data Friday afternoon to shine light on fund positioning the previous week. Next week will be especially light volume with half trading days and market closures, so recent ranges should hold unless major trade details are released. Farm marketing has ceased and should remain that way until 2020. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average up 137.68 at 28,376.96 and the S&P 500 up 14.23 at 3,191.14 while the 10-Year Treasury yield ended at 1.908%. Early Friday, the March DJIA futures are up 16 points. Asian markets are lower with Japan's Nikkei 225 down 48.22 (-0.2%) and China's Shanghai Composite down 12.13 points (-0.4%). European markets are higher with London's FTSE 100 up 11.3 points (0.15%), Germany's DAX up 81.77 points (0.62%) and France's CAC 40 up 34.6 points (0.58%). The March Euro is down 0.003 at 1.120 and the March U.S. dollar index is up 0.165 at 97.120. The March 30-Year T-Bond is down 18/32nds, while February gold is down $3.00 at $1,481.40 and February crude oil is down $0.29 at $60.89. Soybeans on China's Dalian Exchange were down 0.29% while soybean meal was down 0.4%.