DTN Early Word Grains 11/09 05:58

DTN Early Word Grains 11/09 05:58 Corn, Wheat Lower While Soy Complex Steady December corn is down 4 1/2 cents per bushel, January soybeans are steady, and December KC wheat is down 5 1/4 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: December corn is down 4 1/2 cents per bushel, January soybeans are steady, and December KC wheat is down 5 1/4 cents. CME Globex Recap: Stronger equity markets around the globe overnight with U.S. futures looking to add to last week's gains. So far, investors seem comfortable with the prospect of a Biden presidency, even if legal challenges could drag out the next couple of weeks as President Trump mounts his case in court. Energy markets are higher overnight, although spot crude oil remains well below 40.00 per barrel. The U.S. Dollar Index traded to two-month lows overnight before recovering as the greenback deals with the potential of additional fiscal spending under a new administration. Precious metals are firmer overnight. Grain markets are mixed to weaker overnight with corn and wheat posting solid losses while the soy complex hangs near unchanged. The technical picture of corn and wheat is a bit concerning and suggesting of further downside in the sessions ahead barring a bullish surprise by the USDA Tuesday. Harvest is close to wrapping up in the U.S. with attention shifting to South American supplies quickly. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 66.78 at 28,323.40 and the S&P 500 down 1.01 at 3,510.45 while the 10-Year Treasury yield ended at 0.82%. Early Monday, the December DJIA futures are up 410 points. Asian markets are higher with Japan's Nikkei 225 up 514.61 (2.12%) and China's Shanghai Composite up 61.57 points (1.86%). European markets are higher with London's FTSE 100 up 80.81 points (1.37%), Germany's DAX up 240.36 points (1.93%) and France's CAC 40 up 78.82 points (1.59%). The December Euro is down 0.001 at 1.190 and the December U.S. dollar index is up 0.120 at 92.345. The December 30-Year T-Bond is up 9/32nds, while December gold is up $7.60 at $1,959.30 and December crude oil is up $0.78 at $37.92. Soybeans on China's Dalian Exchange were down 0.44% while soybean meal was down 1.56%.