DTN Early Word Grains 08/12 05:52

DTN Early Word Grains 08/12 05:52 Wheat Lower Ahead of Friday's USDA Reports, Row Crops Cautious December corn was up 1 cent, November soybeans were down 5 cents and September KC wheat was down 10 cents. Todd Hultman DTN Lead Analyst PRE-6 a.m. GLOBEX PRICES: December corn was up 1 cent, November soybeans were down 5 cents and September KC wheat was down 10 cents. CME GLOBEX RECAP: Early Friday, U.S. stocks on the Dow Jones Industrials are trading higher, encouraged by overnight gains in Europe and Japan and also encouraged by this week's lower than expected inflation data. A two-month drop in crude oil prices was responsible for most of the easing, while Fed officials show no sign of backing away from their more hawkish policies. USDA's WASDE and Crop Production reports are due out at 11 a.m. CDT and will include new estimates of row crop production as well as an update of this year's plantings. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average up 27.16 at 33,336.67 and the S&P 500 down 2.97 at 4,207.27 as the 10-Year Treasury yield ended at 2.89%, up from its lowest rate in over three months. Early Friday, September Dow Jones futures are trading up 124 points. Asian markets are mixed to higher with Japan's Nikkei 225 index up 2.62% and China's Shanghai Composite Index down 0.15%. European markets are higher with the spot futures of the London FTSE 100 trading up 0.52%, spot futures of Germany's DAX trading up 0.62% and spot futures of France's CAC Index trading up 0.47%. The September euro is down $0.0033 at $1.0317. The September U.S. Dollar Index is up 0.25 at 105.25. The September 30-year T-bond is down 2/32nds, while August gold is down $3.70 at $1,803.50 and September crude oil is up $0.13 at $94.47. On China's Dalian exchange, September corn was up 1.0%, September soybeans were up 0.8%, September soybean meal was up 0.5% and September soybean oil was up 0.9%. September Malaysian palm oil is trading up 4.3%.