DTN Early Word Grains 08/29 05:52

DTN Early Word Grains 08/29 05:52 Soybeans, Wheat Start Lower With Investors Braced for More Rate Hikes December corn was up 6 cents, November soybeans were down 19 cents and December KC wheat was down 10 cents. Todd Hultman DTN Lead Analyst EARLY GLOBEX PRICES: December corn was up 6 cents, November soybeans were down 19 cents and December KC wheat was down 10 cents. CME GLOBEX RECAP: Early Monday, U.S. futures on the Dow Jones Industrials are trading lower, along with stocks in Europe and Japan, responding to Friday's hawkish comments from Federal Reserve Chairman Jerome Powell and the continuing support for more increases in the interest rate ahead. According to CNBC.com, many are expecting the Fed to hike rates by three-fourths of a percent in September. USDA's Crop Progress report will be out at 3 p.m. CDT, Monday afternoon. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average down 1,008.38 at 32,283.40 and the S&P 500 down 141.46 at 4,057.66 as the 10-Year Treasury yield ended at 3.03%, down from the highest rate in over a month. Early Monday, September Dow Jones futures are trading down 275 points. Asian markets are mostly lower with Japan's Nikkei 225 index down 2.66% and China's Shanghai Composite Index up 0.14%. European markets are lower with the spot futures of the London FTSE 100 trading down 0.70%, spot futures of Germany's DAX trading down 1.20% and spot futures of France's CAC Index trading down 1.37%. The September euro is down $0.0037 at $.9942. The September U.S. Dollar Index is up 0.53 at 109.28. The September 30-year T-bond is down 1 4/32nds, while December gold is down $16.10 at $1,733.70 and October crude oil is up $0.28 at $93.34. On China's Dalian exchange, January corn was up 1.4%, November soybeans were up 0.6%, January soybean meal was up 0.1% and January soybean oil was down 0.1%. November Malaysian palm oil is trading up 1.6%.