DTN Early Word Grains 11/17 05:50

DTN Early Word Grains 11/17 05:50 Ag Room Weak Following Export Extension December corn is down 8 3/4 cents per bushel, January soybeans are down 9 1/2 cents, and December KC wheat is down 5 3/4 cents. Tregg Cronin DTN Contributing Analyst EARLY GLOBEX PRICES: December corn is down 8 3/4 cents per bushel, January soybeans are down 9 1/2 cents, and December KC wheat is down 5 3/4 cents. CME GLOBEX RECAP: Global equities are lower around the globe overnight with U.S. futures solidly lower early Thursday morning. There are competing narratives in financial markets right now of data showing inflation is beginning to cool in the United States and that should allow the Federal Reserve to cool its rate of interest rate increases. Conversely, strong retail sales this week suggests the Fed may have to raise further for longer to actually bring inflation down as opposed to leveling off. Energy markets have been weak this week, with spot crude trading down to the lowest level since late October. The U.S. Dollar Index is firmer overnight, recovering from Tuesday's multi-month low. Metals are weaker with silver and copper down over 1.0%. Grain markets are lower across the board led by Chicago wheat and soybean oil as traders react to the extension of the Black Sea export deal. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 39.09 at 33,553.83 and the S&P 500 down 32.94 at 3,991.73 while the 10-Year Treasury yield ended at 3.692%. Early Thursday, the December DJIA futures are down 165 points. Asian markets are lower with Japan's Nikkei 225 down 97.73 (-0.35%) and China's Shanghai Composite down 4.55 points (-0.15%). European markets are lower with London's FTSE 100 down 42.45 points (-0.58%), Germany's DAX up 12.46 points (0.09%) and France's CAC 40 down 47.23 points (-0.71%). The December Euro is down 0.006 at 1.040 and the December U.S. Dollar Index is up 0.588 at 106.740. The December 30-Year T-Bond is down 11/32nds, while December gold is down $10.50 at $1,765.30 and December crude oil is down $1.22 at $84.37. Corn on China's Dalian Exchange was down 0.53% while soybeans were down 0.33% and soybean meal was down 0.59%.