DTN Early Word Grains 12/23 06:12

DTN Early Word Grains 12/23 06:12 Grains Firmer to Begin Christmas Week March corn is up 1/4 cent per bushel, January soybeans are up 2 1/2 cents, and March KC wheat is up 1 1/2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is up 1/4 cent per bushel, January soybeans are up 2 1/2 cents, and March KC wheat is up 1 1/2 cents. CME Globex Recap: Equity markets were higher overnight after news broke China will cut import tariffs for frozen pork, pharmaceuticals and some high-end tech components beginning Jan. 1 in a move designed to push toward a conclusion of "phase one." The plan approved by China's cabinet would cut tariffs below the level enjoyed by most-favored nations, putting the U.S. at an advantage to other countries. Grains are higher across the board after a quiet Sunday night open. This week should be a fairly quiet one barring a major announcement on trade between the U.S. and China. Producer marketing should be limited the rest of 2019 with some movement possible in the next taxable year. South American weather remains non-threatening with early harvest efforts beginning next month in Brazil. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average up 78.13 at 28,455.09 and the S&P 500 up 15.85 at 3,205.37 while the 10-year Treasury yield ended at 1.917%. Early Monday, the March DJIA futures are up 35 points. Asian markets are mixed with Japan's Nikkei 225 up 4.48 (0.02%) and China's Shanghai Composite down 42.19 points (1.4%). European markets are mixed with London's FTSE 100 up 35.52 points (0.47%), Germany's DAX down 18.9 points (0.14%) and France's CAC 40 up 2.41 points (0.04%). The March euro is up up 0.00035 at 1.110 and the March U.S. dollar index is up 0.016 at 97.290. The March 30-year T-Bond is down 1/32nds, while February gold is up $6.20 at $1,487.10 and February crude oil is down $0.05 at $60.39. Soybeans on China's Dalian Exchange were up 0.74% while soybean meal was down 0.26%.