DTN Early Word Grains 10/23 05:49

DTN Early Word Grains 10/23 05:49 Grain Markets Lower, Correcting Recent Gains in Corn, Soybeans December corn is down 3/4 cent per bushel, November soybeans are down 4 1/2 cents, December KC wheat is down 5 3/4 cents, December Chicago wheat is down 5 1/4 cents and December Minneapolis wheat is down 4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is down 3/4 cent per bushel, November soybeans are down 4 1/2 cents, December KC wheat is down 5 3/4 cents, December Chicago wheat is down 5 1/4 cents and December Minneapolis wheat is down 4 cents. CME GLOBEX RECAP: Most world markets continue to want to show some weakness, correcting the strong markets earlier this month. Higher market-based interest rates have been a source of concern, as the odds of rate cuts seem to be falling due to ongoing strong labor conditions and some "sticky" inflationary indicators. Once again, the Chinese market is moving higher despite the lower equity trade in most other markets. Some of the recent rally is the announced stimulus and the rest is just momentum from oversold conditions. Existing home sales will be released later Wednesday morning, and there will be another speech Wednesday by a Federal Reserve Governor. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 6.71 at 42,924.89 and the S&P 500 down 2.78 at 5,851.20. The 10-Year Treasury yield ended at 4.204%. Early Wednesday, the December Dow Jones Futures are down 193 points. European markets are lower with the spot futures of London's FTSE 100 trading down 0.34%, spot futures of Germany's DAX is trading down 0.12% and the spot futures of France's CAC 40 Index down 0.48%. Asian markets are mixed with Japan's Nikkei 225 Index down 0.8% and China's Shanghai Composite Index up 0.52%.