DTN Early Word Grains 07/27 05:54

DTN Early Word Grains 07/27 05:54 Grains Higher at Mid-Week December corn is up 1 cent per bushel, November soybeans are up 7 3/4 cents, and September KC wheat is up 7 1/2 cents. Tregg Cronin DTN Contributing Analyst PRE-6 a.m. GLOBEX PRICES: December corn is up 1 cent per bushel, November soybeans are up 7 3/4 cents, and September KC wheat is up 7 1/2 cents. CME GLOBEX RECAP: Equity trade is higher in Europe early Wednesday morning with U.S. futures firmer ahead of the all-important FOMC decision later Wednesday afternoon. Earnings season continues to progress with several big tech companies reporting Tuesday. According to the Wall Street Journal, Microsoft and Google parent company Alphabet reported better than feared earnings the day prior, although the Microsoft earnings were the slowest in two years. Energy markets are firmer overnight, although downtrends are still in place dating back to the June highs. Natural gas remains the commodity in focus as Russia pinches supplies heading to Germany. The U.S. Dollar Index is weaker but mostly rangebound over the last week. Metals are firmer with copper up 1.02%. Grain markets are higher overnight, shaking off evening session weakness to add to Tuesday's gains. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 228.50 at 31,761.54 and the S&P 500 down 45.79 at 3,966.84 while the 10-Year Treasury yield ended at 2.787%. Early Wednesday, the September DJIA futures are up 124 points. Asian markets are mixed with Japan's Nikkei 225 up 60.54 (0.22%) and China's Shanghai Composite down 1.68 points (-0.05%). European markets are higher with London's FTSE 100 up 30.81 points (0.42%), Germany's DAX up 28.3 points (0.21%) and France's CAC 40 up 24.26 points (0.39%). The September Euro is up 0.002 at 1.020 and the September U.S. Dollar Index is down 0.204 at 106.840. The September 30-Year T-Bond is down 2/32nds, while August gold is up $3.40 at $1,721.10 and September crude oil is up $0.37 at $95.35. Corn on China's Dalian Exchange was up 0.57% while soybeans were up 0.85% and soybean meal was up 1.05%.