DTN Early Word Grains 08/01 05:56

DTN Early Word Grains 08/01 05:56 Soybeans Take a Step Back, More Tariffs Proposed December corn was down 1/2 cent, November soybeans were down 12 1/4 cents, and September Kansas City (HRW) wheat was up 5 cents. By Todd Hultman DTN Analyst 6:00 a.m. CME Globex: December corn was down 1/2 cent, November soybeans were down 12 1/4 cents, and September Kansas City (HRW) wheat was up 5 cents. CME Globex Recap: Stock markets are lower in China and Europe after CNBC.com reported the White House has proposed increasing $200 billion of tariffs on Chinese goods from 10% to 25%. Other than wheat, nearly all commodities are starting lower early Wednesday. The September U.S. dollar index is a little higher with the Federal Reserve expected to keep interest rates unchanged later Wednesday. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 108.36 points at 25,415.19 and the S&P 500 up 13.69 points at 2,816.29 while the 10-year Treasury yield ended at 2.96%. Early Wednesday, DJIA futures were down 35 points. Asian markets are mixed with Japan's Nikkei 225 up 192.98 (0.09%) and China's Shanghai Composite down 51.87 (-1.8%). European markets are lower with London's FTSE 100 down 73.37 points (-0.9%), Germany's DAX down 48.07 points (-0.4%), and France's CAC 40 down 2.53 points (-0.05%). The euro was down .0014 and the U.S. dollar index was up 0.06 at 94.61. September 30-year T-Bonds were down 11/32nd while August gold was down $0.60 at $1,223.10 and September crude oil was down $0.68 at $68.08. Soybeans on China's Dalian Exchange were steady to lower and Malaysian palm oil futures were up 0.8%.