DTN Early Word Grains 10/21 05:44

DTN Early Word Grains 10/21 05:44 Crop Prices Lower Early Friday; Rising Interest Rates Weigh on Investors December corn was down 3 cents, January soybeans were down 10 cents and December KC wheat was down 11 cents. Todd Hultman DTN Lead Analyst EARLY GLOBEX PRICES: December corn was down 3 cents, January soybeans were down 10 cents and December KC wheat was down 11 cents. CME GLOBEX RECAP: Early Friday, stock futures in the U.S. were lower, under continuous pressure from falling T-bond prices as traders surrender to the expectations of higher long-term interest rates. CNBC.com reported responses to earnings reports were a mixed bag with positive responses to IMB and AT&T, while shares of Union Pacific and Tractor Supply sold lower. A report from Verizon will be out Friday morning. At 2 p.m. CDT Friday, USDA will have its Cattle on Feed report for Oct. 1. Traders are expecting a 1% lower on-feed total, compared to a year ago. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average down 90.22 at 30,333.59 and the S&P 500 down 29.38 at 3,665.78, while the 10-Year Treasury yield increased to 4.23%, the highest yield in 12 years. Early Friday, December Dow Jones futures are trading down 132 points. Asian markets are mostly lower with Japan's Nikkei 225 index down 0.43% and China's Shanghai Composite Index up 0.13%. European markets are lower with the spot futures of the London FTSE 100 trading down 0.80%, spot futures of Germany's DAX trading down 1.55% and spot futures of France's CAC Index trading down 1.72%. The December euro is down $0.0027 at $.980. The December U.S. Dollar Index is up 0.41 at 113.23. The December 30-year T-bond is down 29/32nds, while December gold is down $13.20 at $1,623.60 and December crude oil is down $1.19 at $83.32. On China's Dalian exchange, January corn was up 0.7%, November soybeans were down 0.2%, January soybean meal was up 1.0% and January soybean oil was down 0.1%. December Malaysian palm oil is trading down 1.4%.