DTN Early Word Grains 09/23 05:48

DTN Early Word Grains 09/23 05:48 Grain Markets Higher on Mixed Yield Reports, South American Weather Concerns December corn is up 5 3/4 cents per bushel, November soybeans are up 13 1/2 cents, December KC wheat is up 9 1/4 cents, December Chicago wheat is up 9 cents and December Minneapolis wheat is up 7 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is up 5 3/4 cents per bushel, November soybeans are up 13 1/2 cents, December KC wheat is up 9 1/4 cents, December Chicago wheat is up 9 cents and December Minneapolis wheat is up 7 cents. CME GLOBEX RECAP: World equity markets are mixed Monday morning as traders are trying to assess the market-rate interest rate movements last week in which short-term rates dropped in response to the 50-basis point cut from the Fed, but long-term rates rose. The 10-year note rose from 3.65% to 3.72% and nearly posted an outside reversal higher. There is strong demand for less expensive mortgages and other longer-term debt. In this week's economic data, we will get flash-PMIs from S&P in both services and manufacturing on Monday. The Case Schiller home price index and consumer confidence come out on Tuesday, with new home sales on Wednesday. Thursday brings the weekly initial jobless claims, durable goods for August, the second revision of 2nd quarter GDP, and pending home sales. Finally on Friday, we get personal income, personal spending, consumer sentiment, and the PCE index which is the Federal Reserve board's most favored indicator of inflation. In agriculture, in addition to all the weekly reports, we will get a cold storage report for August and the Quarterly Hogs and Pigs report on Friday afternoon at 2 pm. CDT. In addition to the data, there will be at least 13 instances of members of the Federal Reserve board giving speeches, including chairman Powell on Thursday. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 38.17 at 42,063.36 and the S&P 500 down 11.09 at 5,702.55. The 10-Year Treasury yield ended at 3.728%. Early Monday, the December Dow Jones Futures are up 31 points. European markets are mixed with the spot futures of London's FTSE 100 trading down 0.04%, spot futures of Germany's DAX is trading up 0.34% and the spot futures of France's CAC 40 Index down 0.3%. Asian markets are higher with Japan's Nikkei 225 Index up 1.53% and China's Shanghai Composite Index up 0.44%.