DTN Early Word Grains 07/15 06:05

DTN Early Word Grains 07/15 06:05 Grains Mixed on China Buying, Weather December corn is down 3/4 cent per bushel, November soybeans are up 4 1/4 cents, and September KC wheat is up 2 1/2 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: December corn is down 3/4 cent per bushel, November soybeans are up 4 1/4 cents, and September KC wheat is up 2 1/2 cents. CME Globex Recap: Equities are higher around the globe overnight with U.S. futures pointed toward gains of over 1.0% later Wednesday morning. Lots of articles touting promise from several experimental COVID-19 vaccines which could get the global economy back on its feet sooner rather than later. To be clear, a widely available vaccine is still months away at the very earliest. Energy markets are firmer overnight with crude oil maintaining its very shallow upward trajectory. The U.S. Dollar Index is lower for the fourth session in a row and closing in on the mid-June lows which would give way to the lowest levels since early March. Precious metals are mixed overnight. Grains are mixed overnight with corn lower while soybeans and wheat add gains. The buying of late by China has been encouraging but hasn't been enough to overcome the more favorable weather forecasts for both major models. Yield ideas from the USDA on the July WASDE do not look far-fetched like they did at the end of June and beginning of July should benign weather continue into August. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 556.79 at 26,642.59 and the S&P 500 up 42.30 at 3,155.22 while the 10-Year Treasury yield ended at 0.615%. Early Wednesday, the September DJIA futures are up 318 points. Asian markets are higher with Japan's Nikkei 225 up 358.49 (1.59%) and China's Shanghai Composite down 53.31 points (-1.56%). European markets are higher with London's FTSE 100 up 69.77 points (1.13%), Germany's DAX up 164.74 points (1.3%) and France's CAC 40 up 83.52 points (1.67%). The September Euro is up 0.004 at 1.140 and the September U.S. dollar index is down 0.307 at 95.900. The September 30-Year T-Bond is down 18/32nds, while August gold is down $2.30 at $1,811.10 and August crude oil is up $0.48 at $40.77. Soybeans on China's Dalian Exchange were up 0.87% while soybean meal was up 0.1%.