DTN Early Word Grains 09/08 05:53

DTN Early Word Grains 09/08 05:53 Grains Mixed as Energy Prices Slump Further December corn is down 3 1/4 cents per bushel, November soybeans are up 1 cent, and December KC wheat is up 2 3/4 cents. Tregg Cronin DTN Contributing Analyst EARLY GLOBEX PRICES: December corn is down 3 1/4 cents per bushel, November soybeans are up 1 cent, and December KC wheat is up 2 3/4 cents. CME GLOBEX RECAP: Global stock markets are mixed overnight with U.S. futures flat early Thursday morning. Energy prices continue to be a focus with additional selling overnight. Spot crude oil prices traded a low of $81.20 per barrel overnight, the lowest spot level since January 12. Tightening lockdowns in China and slow fuel demand in the U.S. are adding pressure. If crude oil breaks the $80.00 per barrel level, it should be pressuring to the entire commodity space. The U.S. Dollar Index is weaker overnight, retreating further from Wednesday's 20-year high. Metals are higher, led by silver and copper which are both up 1.4%. Grains are mixed overnight with the soy complex and wheat firmer while corn paces with small losses. Corn needs to be mindful of the energy sector tacked on to negative seasonal tendencies this month. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average up 435.98 at 31,581.28 and the S&P 500 up 71.68 at 3,908.19 while the 10-Year Treasury yield ended at 3.265%. Early Thursday, the September DJIA futures are up 4 points. Asian markets are mixed with Japan's Nikkei 225 up 634.98 (2.31%) and China's Shanghai Composite down 10.71 points (-0.33%). European markets are mixed with London's FTSE 100 up 14.8 points (0.2%), Germany's DAX down 37.29 points (-0.29%) and France's CAC 40 up 21.84 points (0.36%). The September Euro is up 0.002 at 1.000 and the September U.S. Dollar Index is down 0.202 at 109.630. The December 30-Year T-Bond is up 8/32nds, while December gold is up $4.30 at $1,732.10 and October crude oil is down $0.16 at $81.78. Corn on China's Dalian Exchange was down 0.04% while soybeans were up 0.26% and soybean meal was up 2.24%.