DTN Early Word Grains 11/07 05:47

DTN Early Word Grains 11/07 05:47 Grain Markets Higher on Wednesday's Technical Reversals Higher, Strong Demand December corn is up 1 cent per bushel, January soybeans are up 7 1/2 cents, December KC wheat is up 2 1/2 cents, December Chicago wheat is up 4 1/2 cents and December Minneapolis wheat is up 2 1/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is up 1 cent per bushel, January soybeans are up 7 1/2 cents, December KC wheat is up 2 1/2 cents, December Chicago wheat is up 4 1/2 cents and December Minneapolis wheat is up 2 1/4 cents. CME GLOBEX RECAP: World equity markets are higher after one of the strongest days in equity markets in the past two years in the aftermath of the election win by former President Trump. Traders believe that the outcome of the election improve the prospects of the extension of the tax cuts implemented in the previous Trump administration and also a lighter touch when it comes to regulation. The market's focus will shift quickly to the Federal Reserve who will announce their interest rate decision Thursday afternoon at 1 p.m. CST. Traders anticipate a rate cut of 1/4 point. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average up 1,508.05 at 43,729.93 and the S&P 500 up 146.28 at 5,929.04. The 10-Year Treasury yield ended at 4.426%. Early Thursday, the December Dow Jones Futures are up 53 points. European markets are higher with the spot futures of London's FTSE 100 trading up 0.29%, spot futures of Germany's DAX is trading up 1.25% and the spot futures of France's CAC 40 Index up 0.49%. Asian markets are mixed with Japan's Nikkei 225 Index down 0.25% and China's Shanghai Composite Index up 2.57%.