DTN Early Word Grains 08/03 06:13

DTN Early Word Grains 08/03 06:13 Grains Mixed to Begin August December corn is down 1/2 cent per bushel, November soybeans are up 4 1/4 cents, and September KC wheat is down 6 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: December corn is down 1/2 cent per bushel, November soybeans are up 4 1/4 cents, and September KC wheat is down 6 cents. CME Globex Recap: Global equities are steady to higher to begin the week and the month of August. The biggest headline over the weekend was the potential banning of social media app TikTok by the Trump Administration in the United States, potentially leaving thousands of social media influencers out of work. Energy markets are weaker overnight with crude oil slipping back below $40.00 per barrel as resistance at that price level remains intact. Precious metals are higher overnight with gold futures continuing to make new highs for the move. Gold has only seen one lower close in the last 12 sessions. Grains are mixed to weaker overnight with corn and wheat softer while soybeans post gains. Weather and Chinese buying will remain the focus this week as conditions look ideal for much of the Midwest while bulls will be counting on additional tonnage being sold to the world's second largest economy. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average up 114.67 at 26,428.32 and the S&P 500 up 24.90 at 3,246.22 while the 10-Year Treasury yield ended at 0.536%. Early Monday, the September DJIA futures are down 0 points. Asian markets are higher with Japan's Nikkei 225 up 485.38 (2.24%) and China's Shanghai Composite up 57.96 points (1.75%). European markets are higher with London's FTSE 100 up 8.17 points (0.14%), Germany's DAX up 164.07 points (1.33%) and France's CAC 40 up 18.18 points (0.38%). The September Euro is down 0.005 at 1.180 and the September U.S. dollar index is up 0.309 at 93.630. The September 30-Year T-Bond is down 11/32nds, while December gold is up $0.80 at $1,986.70 and September crude oil is down $0.51 at $39.76. Soybeans on China's Dalian Exchange were up 0.27% while soybean meal was down 0.38%.