DTN Early Word Grains 11/26 07:04

DTN Early Word Grains 11/26 07:04 Grain Markets Mixed as Tariffs Announced for Canada, Mexico, China December corn is steady, January soybeans are up 3 1/2 cents, March KC wheat is up 6 1/2 cents, March Chicago wheat is up 5 cents and March Minneapolis wheat is up 7 1/2 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is steady, January soybeans are up 3 1/2 cents, March KC wheat is up 6 1/2 cents, March Chicago wheat is up 5 cents and March Minneapolis wheat is up 7 1/2 cents. CME GLOBEX RECAP: World equity markets are mixed, with the U.S. market initially moving lower off the announcement of new tariffs on imports from Canada, Mexico, and China but gradually recovering through the overnight trade. World markets are lower on the news. Many traders believe that this announcement is just a threat to begin a negotiation around concessions that the new administration will be looking for. There are also questions about what the President can do unilaterally and what will need to be approved in Congress. Meanwhile, interest rates moved lower Monday as some of the members of the Fed have expressed a willingness to see a 1/4 point cut at the December Fed meeting. Tuesday morning will give U.S. new data with the Case Shiller home price index, consumer confidence, new home sales, and the release of the Fed minutes coming later Tuesday morning. Wednesday's PCE report will be watched closely. OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average up 440.06 at 44,736.57 and the S&P 500 up 18.03 at 5,987.37. The 10-Year Treasury yield ended at 4.265%. Early Tuesday, the December Dow Jones Futures are up 18 points. European markets are mixed/higher/lower with the spot futures of London's FTSE 100 trading down 0.3%, spot futures of Germany's DAX is trading down 0.48% and the spot futures of France's CAC 40 Index down 0.5%. Asian markets are mixed/higher/lower with Japan's Nikkei 225 Index down 0.87% and China's Shanghai Composite Index down 0.12%.