DTN Early Word Grains 11/05 05:54

DTN Early Word Grains 11/05 05:54 Grains Rally on Exports, Forecasts December corn is up 5 1/4 cents per bushel, January soybeans are up 12 1/4 cents, and December KC wheat is up 9 3/4 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: December corn is up 5 1/4 cents per bushel, January soybeans are up 12 1/4 cents, and December KC wheat is up 9 3/4 cents. CME Globex Recap: Higher equity markets around the globe overnight with U.S. futures poised for higher values Thursday as well. It would appear investors are positioning for a Biden Presidency, although as many have pointed out on social media, with a Republican Senate, we could be facing a lame duck president before he is even declared the winner. Lawsuits are likely to drag out resolution, but so far, it doesn't seem to be phasing financial markets. The energy complex is lightly mixed overnight, the U.S. Dollar Index is weaker and back below its 50-day moving average while precious metals are higher. Grains are much stronger overnight as concerns over dryness in South America seem to be back front-and-center. In addition, official export data showed us this week that grains are getting off to one of the best starts of a marketing year ever, especially in soybeans. After a healthy technical correction, it would appear grains are back to their winning ways. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average up 367.63 at 27,847.66 and the S&P 500 up 74.42 at 3,369.02 while the 10-Year Treasury yield ended at 0.768%. Early Thursday, the December DJIA futures are up 359 points. Asian markets are higher with Japan's Nikkei 225 up 410.05 (1.73%) and China's Shanghai Composite up 42.69 points (1.3%). European markets are higher with London's FTSE 100 up 31.08 points (0.53%), Germany's DAX up 147.16 points (1.19%) and France's CAC 40 up 41.74 points (0.85%). The December Euro is up 0.008 at 1.180 and the December U.S. dollar index is down 0.481 at 92.930. The December 30-Year T-Bond is up 31/32nds, while December gold is up $21.90 at $1,918.10 and December crude oil is down $0.18 at $38.97. Soybeans on China's Dalian Exchange were up 0.35% while soybean meal was up 1.84%.