DTN Early Word Grains 07/24 05:55

DTN Early Word Grains 07/24 05:55 Grains Lower, USDA Says Crops Doing Okay December corn was down 4 1/2 cents, November soybeans were down 5 cents, and September Kansas City (HRW) wheat was down 5 1/4 cents. By Todd Hultman DTN Analyst 6:00 a.m. CME Globex: December corn was down 4 1/2 cents, November soybeans were down 5 cents, and September Kansas City (HRW) wheat was down 5 1/4 cents. CME Globex Recap: Major stock markets are starting higher Tuesday with positive gains expected in Friday's report of second quarter U.S. GDP. Tuesday morning's commodity board is split in half with ag commodities trading lower and most non-ag commodities starting higher. Contributing to Tuesday's lower grain prices, USDA's crop ratings held roughly steady from a week ago. OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average down 13.83 points at 25,044.29 and the S&P 500 up 5.15 points at 2,806.98 while the 10-year Treasury yield ended at 2.96%. Early Tuesday, DJIA futures were up 82 points. Asian markets are higher with Japan's Nikkei 225 up 113.49 (0.5%) and China's Shanghai Composite up 46.02 (1.6%). European markets are also higher with London's FTSE 100 up 63.45 points (0.8%), Germany's DAX up 181.51 points (1.4%), and France's CAC 40 up 52.67 points (1.0%). The euro was down .0008 and the U.S. dollar index was up 0.04 at 94.67. September 30-year T-Bonds were up 9/32nds while August gold was down $1.50 at $1,224.10 and September crude oil was up $0.35 at $68.24. Soybeans on China's Dalian Exchange were steady to lower and Malaysian palm oil futures were down 0.8%.