DTN Early Word Grains 11/03 05:52

DTN Early Word Grains 11/03 05:52 Crop Prices Lower as Higher Interest Rates Push U.S. Dollar Higher December corn was down 4 cents, January soybeans were down 13 cents and December KC wheat was down 11 cents. Todd Hultman DTN Lead Analyst EARLY GLOBEX PRICES: December corn was down 4 cents, January soybeans were down 13 cents and December KC wheat was down 11 cents. CME GLOBEX RECAP: Early Thursday, stock futures in the U.S. were a little lower, in line with lower trading in Europe and Asia. Treasury bonds are lower and the U.S. Dollar Index is higher once again after the Federal Reserve raised the federal funds target on Wednesday, showing no sign of backing down anytime soon. USDA's weekly export sales is due out at 7:30 a.m. CDT, the same time as weekly U.S. jobless claims and the U.S. trade deficit. On Thursday, the Bank of England is expected to raise its key interest rate by 0.75% to 3.00%. Thursday's earnings reports include ConocoPhillips, Cummins and Starbucks. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 505.44 at 32,147.76 and the S&P 500 down 96.41 at 3,759.69, while the 10-Year Treasury yield increased to 4.06%, near the highest yield since 2008. Early Thursday, December Dow Jones futures are trading down 43 points. Asian markets are slightly lower with Japan's Nikkei 225 index down 0.06% and China's Shanghai Composite Index down 0.19%. European markets are lower with the spot futures of the London FTSE 100 trading down 0.86%, spot futures of Germany's DAX trading down 0.79% and spot futures of France's CAC Index trading down 0.86%. The December euro is down $0.0121 at $.9801. The December U.S. Dollar Index is up 1.32 at 112.55. The December 30-year T-bond is down 1 full point, while December gold is down $22.20 at $1,627.80 and December crude oil is down $1.51 at $88.49. On China's Dalian exchange, January corn was down 1.3%, January soybeans were down 0.4%, January soybean meal was down 1.1% and January soybean oil was up 1.1%. January Malaysian palm oil is trading down 0.7%.