DTN Early Word Grains 04/21 07:23

DTN Early Word Grains 04/21 07:23 Soybean Prices Continue to Fall in China; Grains Slightly Lower July corn is down 2 cents, July soybeans are down 10 cents and July KC wheat is down 2 cents. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is down 2 cents, July soybeans are down 10 cents and July KC wheat is down 2 cents. CME GLOBEX RECAP: Early Friday, U.S. stock futures are starting slightly higher and the commodity board is mixed, a possible reprieve from two days of risk-off selling. Overnight reports of April manufacturing activity showed contraction in Australia, Japan, the Eurozone and the U.K. More April snow continues to fall over the Dakotas and Minnesota, adding to planting difficulties this spring. At 2 p.m. CDT, USDA will issue the cattle on-feed report for April 1, the only significant report of the day. Friday's earnings reports include Procter & Gamble and Valmont Industries has an earnings call after a favorable first-quarter report. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average down 110.39 at 33,786.62 and the S&P 500 Index down 24.73 at 4,129.79. The 10-Year Treasury yield ended at 3.55%. Early Friday, June Dow Jones futures are down 14 points. European markets are mixed with the spot futures of the London FTSE 100 trading up 0.23%, spot futures of Germany's DAX trading down 0.19% and spot futures of France's CAC Index trading up 0.19%. Asian markets are lower with Japan's Nikkei 225 index down 0.33% and China's Shanghai Composite Index down 1.95%.