DTN Early Word Grains 11/28 06:04

DTN Early Word Grains 11/28 06:04 Weakness in Grains as Outside Markets Weigh December corn is down 3 1/2 cents per bushel, January soybeans are down 6 3/4 cents, and March KC wheat is down 1 1/2 cents. Tregg Cronin DTN Contributing Analyst EARLY GLOBEX PRICES: December corn is down 3 1/2 cents per bushel, January soybeans are down 6 3/4 cents, and March KC wheat is down 1 1/2 cents. CME GLOBEX RECAP: Notable weakness in equity and energy markets overnight with a focus on the Chinese protests and lockdowns. Chinese leadership remains committed to their "COVID-zero" approach, regardless of how damaging it might be economically or emotionally to its people. This is raising serious concerns about economic demand, spilling over to equities and energies to start the week. Spot crude oil futures were down as much as 3% at one point, hitting the lowest levels in almost a year. The U.S. Dollar Index is down overnight, staring at the fourth lower close in a row. Metals are mixed overnight with copper lower while gold and silver trade higher. Grain markets are also lower overnight with losses being led by soybean oil and Chicago wheat. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 152.97 at 34,347.03 and the S&P 500 down 1.14 at 4,027.26 while the 10-Year Treasury yield ended at 3.691%. Early Monday, the December DJIA futures are down 185 points. Asian markets are lower with Japan's Nikkei 225 down 120.2 (-0.42%) and China's Shanghai Composite down 23.14 points (-0.75%). European markets are lower with London's FTSE 100 down 45.61 points (-0.61%), Germany's DAX down 150.04 points (-1.03%) and France's CAC 40 down 63.15 points (-0.94%). The December Euro is up 0.007 at 1.050 and the December U.S. Dollar Index is down 0.402 at 105.515. The December 30-Year T-Bond is up 18/32nds, while December gold is up $8.20 at $1,762.20 and January crude oil is down $2.16 at $74.12. Corn on China's Dalian Exchange was up 0.51% while soybeans were down 0.81% and soybean meal was down 0.17%.