DTN Early Word Grains 07/16 06:00

DTN Early Word Grains 07/16 06:00 Grains Mostly Lower, Weather Remains Supportive December corn is down 3/4 cents per bushel, November soybeans are down 5 1/4 cents, and September K.C. wheat is down 1 1/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: December corn is down 3/4 cents per bushel, November soybeans are down 5 1/4 cents, and September K.C. wheat is down 1 1/4 cents. CME Globex Recap: Quiet equity markets Tuesday morning as earning season gets set to begin. Investors are also watching to see any developments from a telephone conference scheduled for later this week between Treasury Secretary Mnuchin, U.S. Trade Representative Lighthizer and their Chinese counterparts. If the call is productive, Mr. Mnuchin said he and Mr. Lighthizer may travel to Beijing for trade negotiations. Grain markets are weaker across the board with the exception of Minneapolis wheat, which is likely enjoying a bit of spread unwinding. Improved weather forecasts for late July along with a bit of improvement in crop conditions appears to be pausing buy programs at this time. There is still a long way to go between now and successful pollination but the searing heat does look to subside. Flagging action in December corn looks to bring price back toward the $4.40 level, an incredibly popular auction price as of late. OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average up 27.13 at 27,359.16 and the S&P 500 up 0.53 at 3,013.77 while the 10-Year Treasury yield ended at 2.092%. Early Tuesday, the September DJIA futures are down 17 points. Asian markets are lower with Japan's Nikkei 225 down 150.65 (-0.69%) and China's Shanghai Composite down 4.57 points (-0.16%). European markets are higher with London's FTSE 100 up 15.41 points (0.2%), Germany's DAX up 6.42 points (0.05%) and France's CAC 40 up 9.8 points (0.18%). The September Euro is down 0.002 at 1.130 and the September U.S. dollar index is up 0.195 at 96.740. The September 30-Year T-Bond is up 4/32nds, while August gold is up $4.30 at $1,417.80 and August crude oil is up $0.19 at $59.77. Soybeans on China's Dalian Exchange were -0.99% while soybean meal was -0.81%.