DTN Early Word Grains 07/21 05:53

DTN Early Word Grains 07/21 05:53 Energies Lead Commodities Lower Early Thursday December corn was down 7 cents, November soybeans were down 15 cents and September KC wheat was down 1 cent. Todd Hultman DTN Lead Analyst PRE-6 a.m. GLOBEX PRICES: December corn was down 7 cents, November soybeans were down 15 cents and September KC wheat was down 1 cent. CME GLOBEX RECAP: Early Thursday, U.S. stocks on the Dow Jones Industrials are lower in line with stocks in Europe as the European Central Bank is expected to raise its interest rate by a half-percent Thursday. September natural gas is trading down 28 cents after the Wall Street Journal reported Russia is restoring the gas flow to Germany at 40% of capacity, the same reduced level as before the maintenance began. Thursday's earning reports include AT&T, Travelers and American Airlines Group. USDA's weekly export sales report is due out at 7:30 a.m. CDT. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average up 47.79 at 31,874.84 and the S&P 500 up 23.21 at 3,959.90 as the 10-Year Treasury yield ended at 3.04%, nudging back toward the highest level in three and a half years. Early Thursday, September Dow Jones futures are trading down 65 points. Asian markets are mixed with Japan's Nikkei 225 index up 0.44% and China's Shanghai Composite Index down 0.99%. European markets are lower with the spot futures of the London FTSE 100 trading down 0.48%, spot futures of Germany's DAX trading down 0.80% and spot futures of France's CAC Index trading down 0.26%. The September euro is up $0.0014 at $1.0235. The September U.S. Dollar Index is down 0.01 at 106.95. The September 30-year T-bond is down 8/32nds, while August gold is down $16.40 at $1,683.80 and September crude oil is down $4.66 at $95.22. On China's Dalian exchange, September corn was down 0.0%, September soybeans were down 0.2%, September soybean meal was down 0.0% and September soybean oil was down 0.6%. September Malaysian palm oil is trading down 6%.