DTN Early Word Grains 12/19 05:47

DTN Early Word Grains 12/19 05:47 Grain Markets Mixed to Mostly Lower After Very Poor Performance Wednesday March corn is down 3/4 cent per bushel, January soybeans are down 1/4 cent, March KC wheat is down 6 1/4 cents, March Chicago wheat is down 9 cents and March Minneapolis wheat is down 4 1/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is down 3/4 cent per bushel, January soybeans are down 1/4 cent, March KC wheat is down 6 1/4 cents, March Chicago wheat is down 9 cents and March Minneapolis wheat is down 4 1/4 cents. CME GLOBEX RECAP: World equity markets are mostly lower, with the U.S. market trying to bounce from one of the largest selloffs in recent history. The Federal Reserve lowered interest rates by a 1/4 point on Wednesday afternoon, a result that was anticipated by traders. What wasn't anticipated was the hawkish commentary that followed during the press conference from Chairman Powell. He indicated that the rate cut was a "close call" and that there was "dissent". Additionally, he discussed the dot-plot which indicated only two rate cuts in 2025 instead of four on the previous dot-plot. Finally, in responding to a question about the possibility of a rate hike in 2025, he would not rule that out. This pushed the Dow to its tenth consecutive lower daily close, and 2.6% (1123 point) fall in value on Wednesday. The S&P 500 fell nearly 3% (178 points). Adding to future uncertainty is the fact that the continuing resolution on the budget has been shot down by incoming President Trump who is against some of the spending in that bill. There could be a government shutdown on Friday. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 1,123.03 at 42,326.87 and the S&P 500 down 178.45 at 5,872.16. The 10-Year Treasury yield ended at 4.494%. Early Thursday, the March Dow Jones Futures are up 192 points. European markets are lower with the spot futures of London's FTSE 100 trading down 1.18%, spot futures of Germany's DAX is trading down 0.98% and the spot futures of France's CAC 40 Index down 1.26%. Asian markets are lower with Japan's Nikkei 225 Index down 0.69% and China's Shanghai Composite Index down 0.36%.