DTN Early Word Grains 12/17 05:47

DTN Early Word Grains 12/17 05:47 Grain Markets Higher in Corn, Mixed in Wheat, Lower in Soybeans March corn is up 1 cent per bushel, January soybeans are down 1/2 cent, March KC wheat is down 1/2 cent, March Chicago wheat is up 1/4 cent and March Minneapolis wheat is down 1 1/2 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is up 1 cent per bushel, January soybeans are down 1/2 cent, March KC wheat is down 1/2 cent, March Chicago wheat is up 1/4 cent and March Minneapolis wheat is down 1 1/2 cents. CME GLOBEX RECAP: World equity markets are mixed again as the Federal reserve begins its meeting Tuesday morning. Traders are anticipating a 1/4-point rate cut despite last week's CPI and PPI data that is showing inflation a little stickier than anticipated. Most traders believe that recent statements by members of the Fed have baked in the 1/4-point cut, but that the data will likely result in less cuts next year. Monday's flash PMI numbers were mixed, with manufacturing a little lower than anticipated, but services significantly higher. The empire state manufacturing survey was also soft, and U.S. manufacturing is still clearly in need of some recovery. OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average down 110.58 at 43,717.48 and the S&P 500 up 22.99 at 6,074.08. The 10-Year Treasury yield ended at 4.397%. Early Tuesday, the December Dow Jones Futures are down 145 points. European markets are mixed with the spot futures of London's FTSE 100 trading down 0.68%, spot futures of Germany's DAX is trading up 0.11% and the spot futures of France's CAC 40 Index up 0.24%. Asian markets are lower with Japan's Nikkei 225 Index down 0.24% and China's Shanghai Composite Index down 0.73%.