DTN Early Word Grains 08/18 05:49

DTN Early Word Grains 08/18 05:49 Wheat Pulls Crop Prices Lower Early Thursday With Rain in the Forecast December corn was down 7 1/2 cents, November soybeans were down 12 cents and September KC wheat was down 23 1/2 cents. Todd Hultman DTN Lead Analyst PRE-6 a.m. GLOBEX PRICES: December corn was down 7 1/2 cents, November soybeans were down 12 cents and September KC wheat was down 23 1/2 cents. CME GLOBEX RECAP: Early Thursday, U.S. stock futures on the Dow Jones Industrials are trading a little higher, even after Wednesday's minutes from the latest Federal Reserve meeting reminded traders the Fed is committed to restraining inflation with higher interest rates, even as the Fed acknowledged signs of slowing in the economy. According to CNBC.com, Target's results fell short of estimates and Thursday's reports will include Kohl's, Ross Stores and Applied Materials. USDA's export sales report, weekly jobless claims and U.S. existing home sales will be released at 7:30 a.m. CDT. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 171.69 at 33,980.32 and the S&P 500 down 31.16 at 4,274.04 as the 10-Year Treasury yield ended at 2.89%, up from its lowest rate in four months. Early Thursday, September Dow Jones futures are trading up 40 points. Asian markets are lower with Japan's Nikkei 225 index down 0.96% and China's Shanghai Composite Index down 0.46%. European markets are a little higher with the spot futures of the London FTSE 100 trading up 0.03%, spot futures of Germany's DAX trading up 0.34% and spot futures of France's CAC Index trading up 0.14%. The September euro is down $0.0019 at $1.0188. The September U.S. Dollar Index is up 0.18 at 106.67. The September 30-year T-bond is up 2/32nds, while August gold is up $2.80 at $1,779.50 and September crude oil is up $1.00 at $89.11. On China's Dalian exchange, September corn was down 0.9%, September soybeans were steady, September soybean meal was up 0.5% and September soybean oil was down 0.7%. September Malaysian palm oil is trading down 1.8%.