DTN Early Word Grains 11/02 06:10

DTN Early Word Grains 11/02 06:10 Grains Begin November on a Weak Note December corn is down 2 1/4 cents per bushel, January soybeans are down 7 cents, and December KC wheat is down 2 1/4 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: December corn is down 2 1/4 cents per bushel, January soybeans are up 7 cents, and December KC wheat is up 2 1/4 cents. CME Globex Recap: An interesting dichotomy overnight with plunging energies while equity markets and futures rally. The selloff in energies is tied to more stringent lockdown measures being enacted across Europe and a fear they could be coming back to the United States while rallying equities appear tied to hopes for additional fiscal and monetary support. Add in the near-certain volatility which will come following the presidential election, especially if a clear winner is not announced election night. Overnight, crude oil fell below 34.00 per barrel before recovering but is still trading at the weakest level in five months. The U.S. Dollar Index ran into the 100-day moving average at 94.3014 overnight before settling back slightly. Precious metals are bid. Ag markets are weaker overnight, beginning the month of November on a soft note. A lot of harvest should be completed this week with the open stretch of weather. Difficult to look too far past Tuesday's election. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 157.51 at 26,501.60 and the S&P 500 down 40.15 at 3,310.11 while the 10-Year Treasury yield ended at 0.86%. Early Monday, the December DJIA futures are up 481 points. Asian markets are higher with Japan's Nikkei 225 up 318.35 (1.39%) and China's Shanghai Composite up 0.59 points (0.02%). European markets are higher with London's FTSE 100 up 54.73 points (0.98%), Germany's DAX up 228.06 points (1.97%) and France's CAC 40 up 82.01 points (1.79%). The December Euro is up 0.001 at 1.170 and the December U.S. dollar index is down 0.002 at 94.040. The December 30-Year T-Bond is down 9/32nds, while December gold is up $9.00 at $1,888.90 and December crude oil is down $0.96 at $34.83. Soybeans on China's Dalian Exchange were up 0.3% while soybean meal was down 0.09% and corn was down 1.07%.