DTN Early Word Grains 07/21 05:46

DTN Early Word Grains 07/21 05:46 Grain Prices Lower on Profit Taking and Increased Chances of Rain in the 8--14-Day Period December corn is down 11 cents per bushel, November soybeans are down 10 1/4 cents, September KC wheat is down 20 cents, September Chicago wheat is down 12 cents and September Minneapolis wheat is down 9 3/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is down 11 cents per bushel, November soybeans are down 10 1/4 cents, September KC wheat is down 20 cents, September Chicago wheat is down 12 cents and September Minneapolis wheat is down 9 3/4 cents. CME GLOBEX RECAP: World equity markets are mixed Friday morning following a mixed session in the U.S. that had the Dow extending its recent gains while the Nasdaq and the S&P 500 both fell on profit taking. A jump in market-based interest rates Thursday that also helped the dollar rally was responsible for the sell-off in stocks. Traders have been talking up the idea that the Federal Reserve Board might pause at their next meeting this month, but that would run counter to most of the comments that the members of the Fed had been stating publicly earlier this month. OUTSIDE MARKETS: Previous close Thursday showed the Dow Jones Industrial Average up 163.97 at 35,225.18 and the S&P 500 down 30.85 at 4,534.87, The 10-Year Treasury yield ended at 3.85%. Early Friday, the September Dow Jones Futures are up 42 points. European markets are mixed with the spot futures of London's FTSE 100 trading down 0.04%, spot futures of Germany's DAX is trading down 0.39% and the spot futures of France's CAC 40 Index up 0.27%. Asian markets are lower with Japan's Nikkei 225 Index down 0.57% and China's Shanghai Composite Index down 0.06%.