DTN Early Word Grains 12/24 06:03

DTN Early Word Grains 12/24 06:03 Grains Mixed Ahead of Christmas March corn is down 1/4 cent per bushel, January soybeans are down 5 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 1/4 cent per bushel, January soybeans are down 5 cents, and March KC wheat is up 3/4 cent. CME Globex Recap: A very Merry Christmas from everyone at DTN! Financial markets are quiet as one would expect on Christmas Eve. Grains will enjoy a shortened session that ends at 12:05 p.m. CDT Tuesday with markets reopening at 8:30 a.m. CDT on Dec. 26. Markets were encouraged to see the import tariff cuts on $390 billion worth of goods, which represented about 18% of China's total imports, although the tariff cuts were not exclusively for the United States. As some analysts pointed out, the tariff cuts were not specifically designed for the U.S., but they did seem intended to allow China to cut tariffs for the U.S. without violating World Trade Organization rules. Tuesday should mark a quiet session in grains as most are eager to tie a bow on 2019 and move on to 2020. Some light year-end grain movement related to tax planning may still occur, otherwise marketing should be limited. No issues with South American weather and the U.S.-China trade negotiations aren't likely to produce anything concrete until the first week of January. OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average up 96.44 at 28,551.53 and the S&P 500 up 2.79 at 3,221.22 while the 10-year Treasury yield ended at 1.935%. Early Tuesday, the March DJIA futures are up 18 points. Asian markets are higher with Japan's Nikkei 225 up 9.47 (0.04%) and China's Shanghai Composite up 19.93 points (0.67%). European markets are mixed with London's FTSE 100 up 5.34 points (0.07%), Germany's DAX down 17.92 points (0.13%) and France's CAC 40 up 2.39 points (0.04%). The March euro is down 0.002 at 1.110 and the March U.S. dollar index is up 0.135 at 97.370. The March 30-year T-Bond is up 6/32nds, while February gold is up $5.40 at $1,494.10 and February crude oil is up $0.16 at $60.68. Soybeans on China's Dalian Exchange were down 0.15% while soybean meal was up 0.15%.