DTN Early Word Grains 08/04 05:57

DTN Early Word Grains 08/04 05:57 Row Crops Start Quietly Lower Thursday With Rain Ahead December corn was down 2 1/2 cents, November soybeans were down 3 cents and September KC wheat was down 1 cent. Todd Hultman DTN Lead Analyst PRE-6 a.m. GLOBEX PRICES: December corn was down 2 1/2 cents, November soybeans were down 3 cents and September KC wheat was down 1 cent. CME GLOBEX RECAP: Early Thursday, U.S. stocks on the Dow Jones Industrials are trading slightly lower with U.S. jobless claims due out at 7:30 a.m. CDT, followed by Friday's unemployment report. Thursday's earnings reports include Kellogg, Eli Lilly and Conoco Phillips. The Bank of England is expected to increase its key interest rate from 1.25% to 1.75% Thursday. USDA's weekly export sales report is expected to show another week of low old-crop corn and soybean sales. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average up 416.33 at 32,812.50 and the S&P 500 up 63.98 at 4,155.17 as the 10-Year Treasury yield ended at 2.75%, up from the lowest in over three months. Early Thursday, September Dow Jones futures are trading up 70 points. Asian markets are higher with Japan's Nikkei 225 index up 0.69% and China's Shanghai Composite Index up 0.80%. European markets are mixed with the spot futures of the London FTSE 100 trading down 0.18%, spot futures of Germany's DAX trading up 0.80% and spot futures of France's CAC Index trading up 0.42%. The September euro is up $0.0031 at $1.0217. The September U.S. Dollar Index is down 0.20 at 106.18. The September 30-year T-bond is up 7/32nds, while August gold is up $17.10 at $1,793.50 and September crude oil is down $0.14 at $90.52. On China's Dalian exchange, September corn was down 0.4%, September soybeans were down 1.0%, September soybean meal was down 0.2% and September soybean oil was down 1.5%. September Malaysian palm oil is trading down 1.3%.