DTN Early Word Grains 08/28 10:03

DTN Early Word Grains 08/28 10:03 Grains Mixed as Price Consolidates into Weekend December corn is down 1 cent per bushel, November soybeans are up 3 cents, and December KC wheat is down 1 1/2 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: December corn is down 1 cent per bushel, November soybeans are up 3 cents, and December KC wheat is down 1 1/2 cents. CME Globex Recap: Equity markets are mostly higher as we wind down the final full week of trading for the month of August. The big announcement from the Jackson Hole summit with the Federal Reserve was the central bank would shift its inflation target to an "average" of two percent, giving the Fed more flexibility to continue its highly accommodative monetary policy for longer into the future. Energy markets are steady to weaker overnight after damage to Gulf refining capacity was less than expected. The U.S. dollar is slightly lower overnight while precious metals are higher. Grains are mixed overnight with corn and wheat seeing both sides since the early morning hours. After the impressive rallies this week, some profit taking or consolidation taking place into the weekend would not be unusual. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average up 160.35 at 28,492.27 and the S&P 500 up 5.82 at 3,478.73 while the 10-Year Treasury yield ended at 0.746%. Early Friday, the September DJIA futures are up 119 points. Asian markets are mixed with Japan's Nikkei 225 down 326.21 (-1.41%) and China's Shanghai Composite up 53.69 points (1.6%). European markets are mixed with London's FTSE 100 up 12.06 points (0.2%), Germany's DAX down 23.72 points (-1.18%) and France's CAC 40 up 1.7 points (0.03%). The September Euro is up 0.008 at 1.190 and the September U.S. dollar index is down 0.671 at 92.320. The September 30-Year T-Bond is down 9/32nds, while December gold is up $33.30 at $1,965.90 and October crude oil is down $0.02 at $43.02. Soybeans on China's Dalian Exchange were down 0.54% while soybean meal was up 0.8%.