DTN Early Word Grains 07/05 06:11

DTN Early Word Grains 07/05 06:11 Grains Seen Mixed to Higher in Shortened Session Corn up 1-3 cents, soybeans up 2-4 cents, wheat steady to down 2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: Corn up 1-3 cents, soybeans up 2-4 cents, wheat steady to down 2 cents. CME Globex Recap: Mixed to weaker equity markets Friday morning as investors gear up for the June employment report. Analysts are expecting job growth during June to be around 162,000, which would be up from May's 75,000 jobs added, but still a bit slower than previous months. If jobs added slips below the average guess, it would seem to all but seal a rate cut for the Federal Reserve at the July FOMC meeting. A hard open at 8:30 a.m. CDT for grains with a normal close at 1:15 p.m. CDT. Weather forecasts still look favorable for most areas of the Corn Belt, all things considered. Most in the trade were impressed with corn's strength Wednesday which seemed like the first session since the USDA acreage numbers that the market was able to move past the bearish data. Yield-determining weather won't come until the end of July and beginning of August, keeping crop tours at bay until the end of summer. Both corn and soybean balance sheets will still come down to average yields as they always do, but a few bushel swing this season can take things from overburdened to snug rather quickly. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average up 179.32 at 26,966.00 and the S&P 500 up 22.81 at 2,973.01 while the 10-Year Treasury yield ended at 1.953%. Early Friday, the September DJIA futures are down 38 points. Asian markets are higher with Japan's Nikkei 225 up 43.93 (0.2%) and China's Shanghai Composite up 5.81 points (0.19%). European markets are lower with London's FTSE 100 down 14.06 points (-0.18%), Germany's DAX down 40.2 points (-0.32%) and France's CAC 40 down 19.5 points (-0.35%). The September Euro is down 0.002 at 1.130 and the September U.S. dollar index is up 0.194 at 96.525. The September 30-Year T-Bond is down 6/32nds, while August gold is down $5.00 at $1,415.90 and August crude oil is down $0.42 at $56.92. Soybeans on China's Dalian Exchange were up 0.12% while soybean meal was down -0.32%.