DTN Early Word Grains 09/22 05:51

DTN Early Word Grains 09/22 05:51 Crop Prices Edge Higher After Wednesday's Rate Hike December corn was up 2 cents, November soybeans were up 10 cents and December KC wheat was up 2 cents. Todd Hultman DTN Lead Analyst EARLY GLOBEX PRICES: December corn was up 2 cents, November soybeans were up 10 cents and December KC wheat was up 2 cents. CME GLOBEX RECAP: Early Thursday, stock futures in the U.S. are starting a little higher, in spite of small losses in Europe and Asia and in the aftermath of more hawkish comments from the Federal Reserve. On Wednesday, the Federal Reserve increased the federal funds rate target by 0.75% to a range of 3.00% to 3.25%, as expected, saying it remains committed to raising rates until inflation returns to 2%. The Fed also signaled it expects the rate to peak at 4.6% sometime in 2023. Thursday's reports include USDA's weekly export sales and the Labor Department's weekly jobless claims, both due out at 7:30 a.m. CDT. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 522.45 at 30,183.78 and the S&P 500 down 66.00 at 3,789.93 as the 10-Year Treasury yield ended at 3.51%, down from its highest yield in 11 years. Early Thursday, December Dow Jones futures are trading up 10 points. Asian markets are lower with Japan's Nikkei 225 index down 0.58% and China's Shanghai Composite Index down 0.27%. European markets are slightly lower with the spot futures of the London FTSE 100 trading down 0.08%, spot futures of Germany's DAX trading down 0.16% and spot futures of France's CAC Index trading down 0.41%. The December euro is down $0.0028 at $.9944. The December U.S. Dollar Index is up 0.18 at 110.53. The December 30-year T-bond is up 7/32nds, while December gold is up $4.20 at $1,679.90 and November crude oil is up $0.30 at $83.24. On China's Dalian exchange, January corn was unchanged, November soybeans were up 1.5%, January soybean meal was up 1.0% and January soybean oil was up 1.0%. December Malaysian palm oil is trading down 0.4%.