DTN Early Word Grains 12/09 05:51

DTN Early Word Grains 12/09 05:51 Crop Prices Quietly Higher Ahead of Friday's WASDE Report March corn was up 2 cents, January soybeans were up 3 cents and March KC wheat was up 3 cents. Todd Hultman DTN Lead Analyst PRE-6 AM GLOBEX PRICES: March corn was up 2 cents, January soybeans were up 3 cents and March KC wheat was up 3 cents. CME GLOBEX RECAP: Early Friday, stock futures in the U.S. were trading slightly higher, following Thursday's modest gain. Traders are still looking ahead to next week's Federal Reserve meeting, but still have to get past two inflation reports, the first one coming later Friday morning. The U.S. Labor Department's report on November producer prices is due out at 7:30 a.m. CST, followed by USDA's WASDE and Crop Production reports at 11 a.m. China may have a lot of economic problems, but inflation is not one of them. China's consumer prices were reported up 1.6% in November from a year ago. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average up 183.56 at 33,781.48 and the S&P 500 up 29.59 at 3,963.51, while the 10-Year Treasury yield ended at 3.49%, up from the lowest yield in over two months. Early Friday, March Dow Jones futures are trading up 73 points. Asian markets are higher with Japan's Nikkei 225 index up 1.18% and China's Shanghai Composite Index up 0.30%. European markets are a little higher with the spot futures of the London FTSE 100 trading up 0.02%, spot futures of Germany's DAX trading up 0.20% and spot futures of France's CAC Index trading up 0.09%. The December euro is down $0.0003 at $1.0565. The December U.S. Dollar Index is down 0.03 at 104.73. The March 30-year T-bond is up 2/32nds, while February gold is up $4.20 at $1,805.70 and January crude oil is up $1.06 at $72.52. On China's Dalian exchange, January corn was down 0.6%, January soybeans were up 0.9%, January soybean meal was up 1.2% and January soybean oil was up 0.3%. February Malaysian palm oil is trading up 1.1%.