DTN Early Word Grains 09/19 05:58

DTN Early Word Grains 09/19 05:58 Grain Markets Lower as Correction in Wheat Continues December corn is down 2 3/4 cents per bushel, November soybeans are down 5 1/4 cents, December KC wheat is down 7 1/4 cents, December Chicago wheat is down 8 cents and December Minneapolis wheat is down 6 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is down 2 3/4 cents per bushel, November soybeans are down 5 1/4 cents, December KC wheat is down 7 1/4 cents, December Chicago wheat is down 8 cents and December Minneapolis wheat is down 6 cents. CME GLOBEX RECAP: World equity markets are higher Thursday morning, reacting positively to the 50-basis point cut in interest rates announced on Wednesday by the U.S. Federal Reserve. In the aftermath of the rate cut and the press conference by Fed Chair Powell, U.S. stocks initially rallied but then sold off posting a slightly lower close, potentially indicating that the 50-basis point cut was priced into the market. As markets on Thursday have opened higher around the world, it seems as if the positive benefits of lower U.S. interest rates are driving positive sentiment with all world stock markets trading higher. Wednesday's economic data was positive, with both housing starts and building permits above trade estimates. This adds to positive data from Tuesday and seems to confirm that a "soft landing" is still a real possibility. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 103.08 at 41,503.10 and the S&P 500 down 16.32 at 5,618.26, The 10-Year Treasury yield ended at 3.685%. Early Thursday, the December Dow Jones Futures are up 497 points. European markets are higher with the spot futures of London's FTSE 100 trading up 1.32%, spot futures of Germany's DAX is trading up 1.43% and the spot futures of France's CAC 40 Index up 2.01%. Asian markets are higher with Japan's Nikkei 225 Index up 2.13% and China's Shanghai Composite Index up 0.69%.