DTN Early Word Grains 07/17 05:59

DTN Early Word Grains 07/17 05:59 Grains Soft as Forecasts Continue to Improve December corn is down 2 3/4 cents per bushel, November soybeans are down 1/2 cents, and September K.C. wheat is down 5 1/2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: December corn is down 2 3/4 cents per bushel, November soybeans are down 1/2 cents, and September K.C. wheat is down 5 1/2 cents. CME Globex Recap: Mixed equities around the globe Wednesday morning with focus on trade negotiations, or lack thereof, between the U.S. and China. In a scenario we've all gotten too accustomed to, Trump Administration officials suggested earlier in the week progress was being made and optimism was rising. This was followed Tuesday by a reversal of that sentiment and fiery tweets by the President which insinuated additional tariffs were at the ready and a deal was nowhere in sight. Fortunately, it would seem these sort of antics are not having the market influence they did during much of 2018, allowing our markets to focus on actual price influence. Grain markets are weaker across the board with rains moving across the Dakotas and cooling temperatures on the way for the entire belt by the 10-day outlook. Bulls are quick to point out the prospects for this crop finishing are dim but trading a season-ending frost on July 17 is a difficult thing to quantify at the moment. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 23.53 at 27,335.63 and the S&P 500 down 10.26 at 3,014.30 while the 10-Year Treasury yield ended at 2.122%. Early Wednesday, the September DJIA futures are up 23 points. Asian markets are lower with Japan's Nikkei 225 down 66.07 (-0.31%) and China's Shanghai Composite down 5.92 points (-0.2%). European markets are mixed with London's FTSE 100 down 4.8 points (-0.06%), Germany's DAX up 7.44 points (0.06%) and France's CAC 40 up 4.71 points (0.08%). The September Euro is up 0.001 at 1.130 and the September U.S. dollar index is down 0.041 at 97.000. The September 30-Year T-Bond is up 11/32nds, while August gold is down $8.20 at $1,403.00 and August crude oil is up $0.36 at $57.98. Soybeans on China's Dalian Exchange were -0.77% while soybean meal was -0.35%.