DTN Early Word Grains 06/23 05:44

DTN Early Word Grains 06/23 05:44 Grain Markets Sharply Lower Friday Morning on Perceptions of Improving Rainfall Potential December corn is down 17 1/4 cents per bushel, November soybeans are down 24 1/2 cents, September KC wheat is down 9 1/2 cents, September Chicago wheat is down 10 cents and September Minneapolis wheat is down 5 1/2 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is down 17 1/4 cents per bushel, November soybeans are down 24 1/2 cents, September KC wheat is down 9 1/2 cents, September Chicago wheat is down 10 cents and September Minneapolis wheat is down 5 1/2 cents. CME GLOBEX RECAP: Equity markets are lower and are pointing toward a lower weekly close. On Thursday, the Leading Economic Indicators fell for the 14th consecutive month and continue to point toward a recession in the economy. The worse than expected data actually helped the stock market Thursday as it provides the possibility that the Fed might choose to pause for another month when they meet in July. Unfortunately, the economic data that seems to be most important to the Fed at this moment is employment and unless employment data turns significantly worse, the Fed may still move to raise rates at least one more time. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average down 4.81 at 33,946.71 and the S&P 500 up 16.20 at 4,381.89, The 10-Year Treasury yield ended at 3.80%. Early Friday, the September Dow Jones Futures are down 105 points. European markets are lower with the spot futures of London's FTSE 100 trading down 0.21%, spot futures of Germany's DAX is trading down 0.54% and the spot futures of France's CAC 40 Index down 0.22%. Asian markets are lower with Japan's Nikkei 225 Index down 1.45%.