DTN Early Word Grains 07/29 05:51

DTN Early Word Grains 07/29 05:51 Hot, Dry Forecast Keeps Pushing Row Crop Prices Higher December corn was up 5 cents, November soybeans were up 26 cents and September KC wheat was up 8 cents. Todd Hultman DTN Lead Analyst PRE-6 a.m. GLOBEX PRICES: December corn was up 5 cents, November soybeans were up 26 cents and September KC wheat was up 8 cents. CME GLOBEX RECAP: Early Friday, U.S. stocks on the Dow Jones Industrials are trading a little higher after positive responses from Apple and Amazon on Thursday. European stocks are higher after real GDP in the Euro zone was up 0.7% in the second quarter, better than expected, reported RTTNews.com. Reports on U.S. personal incomes for June and the second quarter of the employment cost index are due out at 7:30 a.m. CDT, followed by the University of Michigan's final index of U.S. consumer sentiment for July at 9:00 a.m. According to CNBC.com, Friday's earnings reports include Chevron, Exxon-Mobil and Procter and Gamble. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average up 332.04 at 32,529.63 and the S&P 500 up 48.82 at 4,072.43 as the 10-Year Treasury yield fell to 2.68%, the lowest in over three months. Early Friday, September Dow Jones futures are trading up 101 points. Asian markets are lower with Japan's Nikkei 225 index down 0.05% and China's Shanghai Composite Index down 0.89%. European markets are higher with the spot futures of the London FTSE 100 trading up 0.57%, spot futures of Germany's DAX trading up 0.75% and spot futures of France's CAC Index trading up 1.38%. The September euro is up $0.0045 at $1.0256. The September U.S. Dollar Index is down 0.48 at 105.76. The September 30-year T-bond is down 14/32nds, while August gold is up $10.50 at $1,760.80 and September crude oil is up $2.10 at $98.52. On China's Dalian exchange, September corn was up 0.1%, September soybeans were up 0.9%, September soybean meal was down 0.2% and September soybean oil was up 3.2%. September Malaysian palm oil is trading up 8.0%.