DTN Early Word Grains 07/28 05:47

DTN Early Word Grains 07/28 05:47 Crop Prices Lower Early Friday, Awaiting Heat Relief December corn was down 7 cents, November soybeans were down 11 cents and September KC wheat was down 7 cents. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: December corn was down 7 cents, November soybeans were down 11 cents and September KC wheat was down 7 cents. CME GLOBEX RECAP: Early Friday, Dow Jones futures are trading a little higher, having endured quarter-percent rate hikes this week in the U.S. and Europe. The U.S. index of personal consumption expenditures, an inflation gauge for June, is due out at 7:30 a.m. CDT Friday, the same time as U.S. personal incomes and consumer spending for June and the Labor Department's employment cost index for the second quarter. The University of Michigan's final index of consumer sentiment for July follows at 9 a.m. Friday's earnings reports include Exxon Mobil, Chevron, Procter & Gamble and Colgate-Palmolive. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average down 237.40 at 35,282.72 and the S&P 500 Index down 29.34 at 4,537.41. The 10-Year Treasury yield ended at 4.01%. Early Friday, September Dow Jones futures are up 43 points. European markets are mixed with the spot futures of the London FTSE 100 trading up 0.10%, spot futures of Germany's DAX trading down 0.23% and spot futures of France's CAC Index trading down 0.45%. Asian markets are mixed with Japan's Nikkei 225 index down 0.40% and China's Shanghai Composite Index up 1.84%.