DTN Early Word Grains 08/03 05:41

DTN Early Word Grains 08/03 05:41 Grain Prices Slightly Higher, Rebounding From Wednesday's Reversal Lower December corn is up 3/4 cent per bushel, November soybeans are up 6 cents, September KC wheat is up 1 1/4 cents, September Chicago wheat is up 3 3/4 cents and September Minneapolis wheat is up 5 1/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is up 3/4 cent per bushel, November soybeans are up 6 cents, September KC wheat is up 1 1/4 cents, September Chicago wheat is up 3 3/4 cents and September Minneapolis wheat is up 5 1/4 cents. CME GLOBEX RECAP: World equity markets are mostly lower Thursday morning, showing some follow-through from a significant correction Wednesday that was mostly blamed on the downgrade of U.S. debt by Fitch, a U.S. rating agency. Comments by recent Fed Chairman Ben Bernanke which seemed to endorse the actions by Fitch added to investor nervousness. Considering the magnitude of the recent equity rally, a correction seems to be upon us. On Wednesday, we also had the ADP employment number which was sharply above expectations at 324,000 new jobs in the private sector. Last month's number was very high as well, which may impact expectations for Friday's jobs report from the Federal Government. Thursday morning, we will get the ISM services number, and factory orders, both of which could move markets. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 348.16 at 35,282.52 and the S&P 500 down 63.34 at 4,513.39, The 10-Year Treasury yield ended at 4.08%. Early Thursday, the September Dow Jones Futures are down 58 points. European markets are lower with the spot futures of London's FTSE 100 trading down 0.58%, spot futures of Germany's DAX is trading down 0.6% and the spot futures of France's CAC 40 Index down 0.7%. Asian markets are mixed with Japan's Nikkei 225 Index down 1.68% and China's Shanghai Composite Index up 0.58%.