DTN Early Word Grains 10/19 05:56

DTN Early Word Grains 10/19 05:56 Grains Begin Week With Rally December corn is up 2 3/4 cents per bushel, November soybeans are up 1 3/4 cents, and December KC wheat is up 5 3/4 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: December corn is up 2 3/4 cents per bushel, November soybeans are up 1 3/4 cents, and December KC wheat is up 5 3/4 cents. CME Globex Recap: Global equities are mostly stronger around the globe overnight with U.S. futures pointed toward a solid open Monday morning. Analysts were encouraged with the news China's economy expanded at 4.9% in the third quarter, which was a little lighter than estimates but still much stronger than the 3.2% growth in the second quarter. The Chinese data is being met with anxiety about the surge in coronavirus cases across Europe which could see additional restrictions and lockdowns reimplemented. Energy markets are weaker overnight, the U.S. Dollar is softer and precious metals are firmer. Grain markets are rallying overnight with gains led by wheat as Chicago wheat breaks out to new contract highs. Funds continue to add to winning positions across the ag space and don't seem ready to stop that buying just yet. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average up 112.11 at 28,606.31 and the S&P 500 up 0.47 at 3,483.34 while the 10-Year Treasury yield ended at 0.744%. Early Monday, the December DJIA futures are up 179 points. Asian markets are higher with Japan's Nikkei 225 up 260.5 (1.11%) and China's Shanghai Composite down 23.69 points (-0.71%). European markets are higher with London's FTSE 100 down 10.92 points (-0.18%), Germany's DAX up 3.82 points (0.03%) and France's CAC 40 up 40.29 points (0.82%). The December Euro is up 0.004 at 1.180 and the December U.S. dollar index is down 0.274 at 93.405. The December 30-Year T-Bond is down 22/32nds, while December gold is up $10.30 at $1,916.70 and November crude oil is down $0.28 at $40.60. Soybeans on China's Dalian Exchange were up 3.61% while soybean meal was up 0.62%.