DTN Early Word Grains 08/09 05:59

DTN Early Word Grains 08/09 05:59 Grains Higher in Final Session Before USDA Report December corn is up 3/4 cents per bushel, November soybeans are up 5 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 up 3/4 cents per bushel, November soybeans are up 5 cents, and September K.C. wheat is down 1 1/4 cents. CME Globex Recap: Global equity markets are mixed to weaker as economic contraction in the United Kingdom for the first time in seven years along with constant trade war fears is stoking global recession flames. Also pressuring sentiment was a report from the International Energy Agency which suggested sluggish oil demand during the first five months of 2019 has resulted in the slowest increase in demand since 2008, causing the agency to reduce its full-year estimates. Grains are trading mostly higher, carrying the mostly positive week of trading right into the weekend. Soybean oil has been the star this week as policy moves inside China would seem to suggest they could be in the import market in a big way toward the end of 2019. Otherwise, there isn't much to do but hurry up and wait for USDA's data sets on Monday. The market spent an incredible amount of time between $4.30-$4.50 from May through the end of July and has also offered plenty buying opportunities below $4.20 in the past two weeks. Regardless of Monday's outcome, market participants should have little reason to bristle about a lack of opportunity to buy or sell the corn market at either "cheap" or "expensive" levels. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average up 371.12 at 26,378.19 and the S&P 500 up 54.11 at 2,883.98 while the 10-Year Treasury yield ended at 1.716%. Early Friday, the September DJIA futures are down 147 points. Asian markets are mixed with Japan's Nikkei 225 up 91.47 (0.44%) and China's Shanghai Composite down 19.8 points (-0.71%). European markets are lower with London's FTSE 100 down 16.56 points (-0.23%), Germany's DAX down 117.42 points (-0.98%) and France's CAC 40 down -49.58 points (-0.92%). The September Euro is up 0.002 at 1.120 and the September U.S. dollar index is down 0.049 at 97.385. The September 30-Year T-Bond is up 17/32nds, while December gold is up $4.80 at $1,514.30 and September crude oil is up $0.70 at $53.24. Soybeans on China's Dalian Exchange were up 0.03% while soybean meal was up 0.69%.