DTN Early Word Grains 07/12 05:29

DTN Early Word Grains 07/12 05:29 Soybean Prices Maintain Bullish Tone Ahead of Wednesday's USDA Reports December corn was up 2 cents, November soybeans were up 14 cents and September KC wheat was up 2 cents. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: December corn was up 2 cents, November soybeans were up 14 cents and September KC wheat was up 2 cents. CME GLOBEX RECAP: Early Wednesday, U.S. stock futures are trading higher in line with higher prices in Europe. Asian stocks are trading lower after Japan's Cabinet Office reported a larger drop in core machinery orders than was expected in May. Tuesday's Short-Term Energy Outlook estimated world oil production slightly below world demand, a tight supply situation. The U.S. Department of Labor's consumer price index for June is due out at 7:30 a.m. CDT Wednesday, followed by the Energy Department's weekly inventory report at 9:30 a.m. USDA's WASDE report and the Crop Production report from NASS are both out at 11 a.m., followed by DTN's report webinar at 12:30 p.m. The Federal Reserve's Beige Book will be released at 1 p.m. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average up 317.02 at 34,261.42 and the S&P 500 Index up 29.73 at 4,439.26. The 10-Year Treasury yield ended at 3.98%. Early Wednesday, September Dow Jones futures are up 49 points. European markets are higher with the spot futures of the London FTSE 100 trading up 0.91%, spot futures of Germany's DAX trading up 0.78% and spot futures of France's CAC Index trading up 0.76%. Asian markets are lower with Japan's Nikkei 225 index down 0.81% and China's Shanghai Composite Index down 0.78%.