DTN Early Word Grains 10/02 05:48

DTN Early Word Grains 10/02 05:48 Grain Markets Higher on Short Covering, World Weather Concerns December corn is up 5 cents per bushel, November soybeans are up 5 cents, December KC wheat is up 10 1/4 cents, December Chicago wheat is up 9 1/4 cents and December Minneapolis wheat is up 7 1/2 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is up 5 cents per bushel, November soybeans are up 5 cents, December KC wheat is up 10 1/4 cents, December Chicago wheat is up 9 1/4 cents and December Minneapolis wheat is up 7 1/2 cents. CME GLOBEX RECAP: World equity markets are mostly lower Wednesday morning as the escalation of the war in the Middle East has moved the focus away from U.S. economic data and the Fed rate cuts. The launch of Ballistic missiles from Iran and the Isreal incursion into southern Lebanon has crude oil prices sharply higher over the past two sessions, leading to concerns that higher energy prices could derail the soft landing for the U.S. economy. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 173.18 at 42,156.97 and the S&P 500 down 53.73 at 5,708.75. The 10-Year Treasury yield ended at 3.743%. Early Wednesday, the December Dow Jones Futures are down 145 points. European markets are lower with the spot futures of London's FTSE 100 trading down 0.01%, spot futures of Germany's DAX is trading down 0.45% and the spot futures of France's CAC 40 Index down 0.13%. Asian markets are lower with Japan's Nikkei 225 Index down 2.18% and China's Shanghai Composite Index is on holiday.