DTN Early Word Grains 07/22 06:00

DTN Early Word Grains 07/22 06:00 Grains Mixed on Weather, China December corn is up 1 1/2 cents per bushel, November soybeans are down 2 3/4 cents, and September KC wheat is up 1 cent. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: December corn is up 1 1/2 cents per bushel, November soybeans are down 2 3/4 cents, and September KC wheat is up 1 cent. CME Globex Recap: Global stocks are weaker, expressing concern over rising tensions between the U.S. and China after the United States ordered a Chinese consulate to close in Houston. Beijing "strongly condemned" the request, calling it a violation of international law. The U.S. State Department said they made the request to protect American intellectual property and American's private information. These are usually not the developments which lead to more robust trade between two countries. Energy markets are weaker as crude oil eases back from the 4 1/2 month highs made Tuesday. Gold and silver are both higher overnight, making fresh nine-year and seven-year highs, respectively. Grain markets are mixed with corn and wheat higher while the soy complex is mostly lower after reversals were witnessed overnight. The about face in the complex could be tied to concerns about the rising tensions between the U.S. and China. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 159.53 at 26,840.40 and the S&P 500 up 5.46 at 3,251.84 while the 10-Year Treasury yield ended at 0.607%. Early Wednesday, the September DJIA futures are down 107 points. Asian markets are mixed with Japan's Nikkei 225 down 132.61 (-0.58%) and China's Shanghai Composite up 12.27 points (0.37%). European markets are lower with London's FTSE 100 down 57.29 points (-0.91%), Germany's DAX down 54.15 points (-0.41%) and France's CAC 40 down 64.07 points (-1.26%). The September Euro is up 0.004 at 1.160 and the September U.S. dollar index is down 0.130 at 94.930. he September 30-Year T-Bond is up 13/32nds, while August gold is up $13.10 at $1,857.00 and September crude oil is down $0.58 at $41.34. Soybeans on China's Dalian Exchange were up 0.13% while soybean meal was down 0.72%.