DTN Early Word Grains 10/20 05:39

DTN Early Word Grains 10/20 05:39 Grain Prices Mixed But Set to Post Strong Weekly Closes December corn is up 1 1/4 cents per bushel, November soybeans are down 3 1/2 cents, December KC wheat is up 6 cents, December Chicago wheat is up 4 cents and December Minneapolis wheat is up 3 1/4 cents. By Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is up 1 1/4 cents per bushel, November soybeans are down 3 1/2 cents, December KC wheat is up 6 cents, December Chicago wheat is up 4 cents and December Minneapolis wheat is up 3 1/4 cents. CME GLOBEX RECAP: World equity markets are all lower after two tough days in the U.S. Thursday, Fed Chairman Powell reiterated recent fed comments during his prepared remarks. Those comments suggested a continued pause in interest rate hikes due to the higher interest rates in the exchange traded markets that were doing the work for the Fed. However, during the question-and-answer session, Powell did an about face suggesting that inflation is still too high and that lower economic growth would be required to bring inflation down to the Fed targets. This caused the 10-year note to push above 5.00% briefly for the first time since 2007. Stocks fell over the course of the session from that point into Thursday's close, and they remain weak Friday morning. Thursday's key data point was the jobless claims number which at 197,000, was well below trade expectations, another stronger than anticipated economic data point. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average down 250.91 at 33,414.17 and the S&P 500 down 36.60 at 4,278.00, The 10-Year Treasury yield ended at 4.99%. Early Friday, the December Dow Jones Futures are down 83 points. European markets are lower with the spot futures of London's FTSE 100 trading down 0.88%, spot futures of Germany's DAX is trading down 1.07% and the spot futures of France's CAC 40 Index down 1%. Asian markets are lower with Japan's Nikkei 225 Index down 0.54% and China's Shanghai Composite Index down 0.74%.