DTN Early Word Grains 09/20 05:46

DTN Early Word Grains 09/20 05:46 Grain Markets Higher, Supported by Technical Buying, Strong Demand December corn is up 1/4 cent per bushel, November soybeans are up 2 1/4 cents, December KC wheat is up 4 cents, December Chicago wheat is up 4 3/4 cents and December Minneapolis wheat is up 2 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is up 1/4 cent per bushel, November soybeans are up 2 1/4 cents, December KC wheat is up 4 cents, December Chicago wheat is up 4 3/4 cents and December Minneapolis wheat is up 2 cents. CME GLOBEX RECAP: World equity markets are mixed Friday morning, with Europe lower but Asian markets higher as Asia tries to catch up to Thursday's huge rally in the U.S. in which both the DJIA and S&P 500 made lifetime highs. The Dow closed above 42,000 for the first time. The tech heavy NASDAQ did not make a new high but was strong, nonetheless. This was a delayed response to the 50-basis point cut from the federal reserve, that was announced on Wednesday afternoon. Thursday's economic data was mixed, with initial jobless claims only 219,000, much lower than expectations. The Philly-Fed manufacturing survey was much stronger than expected, with existing home sales very close to pre-trade expectations. U.S. leading economic indicators were slightly better than trade expectations. All in all, the data helped to support the equity rally as the soft-landing scenario was supported by the data. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average up 522.09 at 42,025.19 and the S&P 500 up 95.38 at 5,713.64. The 10-Year Treasury yield ended at 3.74%. Early Friday, the December Dow Jones Futures are down 13 points. European markets are lower with the spot futures of London's FTSE 100 trading down 0.49%, spot futures of Germany's DAX is trading down 0.92% and the spot futures of France's CAC 40 Index down 0.88%. Asian markets are higher with Japan's Nikkei 225 Index up 1.53% and China's Shanghai Composite Index up 0.03%.