DTN Early Word Grains 07/14 05:54

DTN Early Word Grains 07/14 05:54 Grains Lower as Outside Markets Add Pressure December corn is down 1/2 cent per bushel, November soybeans are down 9 3/4 cents, and September KC wheat is up 3/4 cent. Tregg Cronin DTN Contributing Analyst PRE-6 a.m. GLOBEX PRICES: December corn is down 1/2 cent per bushel, November soybeans are down 9 3/4 cents, and September KC wheat is up 3/4 cent. CME GLOBEX RECAP: Mostly weaker equity markets overnight with U.S. futures sharing that sentiment ahead of the opening bell. In the U.S. Thursday, Q2 earnings season is set to kick off with some large banks releasing numbers before the beginning of trade. JP Morgan Chase and Morgan Stanley are out early while BlackRock, Citigroup, U.S. Bancorp and Wells Fargo are due out Friday morning. These large institutions could be a bell weather for the economy as we move into the higher interest rate environment. Energy markets are getting flattened overnight with crude oil off $2.35 per barrel while products are down 1.6-2.6%. The U.S. Dollar Index is making new multi-decade highs overnight as its uptrend continues. Metals are all weaker with silver leading losses, down 2.3%. Grains were higher at times Wednesday evening but have followed other assets lower in uninspiring trade. The macro-overhang feels too great for grains to muster any kind of sustainable rally. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 208.54 at 30,772.79 and the S&P 500 down 17.02 at 3,818.80 while the 10-Year Treasury yield ended at 2.904%. Early Thursday, the September DJIA futures are down 312 points. Asian markets are mixed with Japan's Nikkei 225 up 164.62 (0.62%) and China's Shanghai Composite down 2.55 points (-0.08%). European markets are lower with London's FTSE 100 down 45.3 points (-0.7%), Germany's DAX down 80.05 points (-0.63%) and France's CAC 40 down 45.77 points (-0.76%). The September Euro is down 0.003 at 1.010 and the September U.S. Dollar Index is up 0.424 at 108.180. The September 30-Year T-Bond is down 30/32nds, while August gold is down $23.90 at $1,711.60 and August crude oil is down $2.31 at $93.99. Corn on China's Dalian Exchange was up 0.48% while soybeans were up 0.57% and soybean meal was up 0.9%.