DTN Early Word Grains 07/23 05:56

DTN Early Word Grains 07/23 05:56 Soybean Meal Drags Grains Mostly Lower Early Friday December corn is down 2 3/4 cents, November soybeans are down 7 1/2 cents and September KC wheat is up 2 1/2 cents. Todd Hultman DTN Lead Analyst Pre-6 a.m. Globex Prices: December corn is down 2 3/4 cents, November soybeans are down 7 1/2 cents and September KC wheat is up 2 1/2 cents. CME Globex Recap: Early Friday, Dow Jones futures are trading higher along with European stocks, finding support from this week's earning reports. Earnings report from major technology companies are due out next week. Rising coronavirus infections remain a concern, especially in Southeast Asia and that may slow the demand for U.S. grain. Late Friday, USDA will release cattle on-feed and cattle inventory reports for July 1. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average up 25.35 at 34,823.35 and the S&P 500 up 8.79 at 4,367.48 as the 10-Year Treasury yield settled at 1.26%. Early Friday, September Dow Jones futures are trading up 137 points. Asian markets are mixed with Japan's Nikkei 225 index closed for a holiday and China's Shanghai Composite Index down 0.68%. European markets are higher with the spot futures of the London FTSE 100 trading up 0.86%, spot futures of Germany's DAX trading up 0.66% and spot futures of France's CAC Index trading up 0.86%. The September euro is up $0.0001 at $1.1784. The September U.S. Dollar Index is up 0.08 at 92.91. The September 30-year T-bond is down 20/32nds, while August gold is down $0.30 at $1,805.10 and September crude oil is up $0.04 at $71.95. On China's Dalian exchange, September corn was up 0.1%, September soybeans were down 1.6%, September soybean meal was down 2.0% and September soybean oil was up 0.1%. July common wheat on China's Zhengzhou exchange was down 0.0%. September Malaysian palm oil is trading up 3.8%.