DTN Early Word Grains 08/09 05:41

DTN Early Word Grains 08/09 05:41 Row Crop Prices a Little Higher Ahead of Friday's Reports December corn was up 1 1/2 cents, November soybeans were up 11 cents and September KC wheat was down 3 cents. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: December corn was up 1 1/2 cents, November soybeans were up 11 cents and September KC wheat was down 3 cents. CME GLOBEX RECAP: Early Wednesday, Dow Jones futures are trading higher, in line with Europe and showing some rebound after Moody's announced it was downgrading credit ratings on ten banks and reviewing others on Tuesday. In China, producer prices were down 4.4% in July from a year ago, another sign of a slowing economy. The U.S. Energy Department's weekly inventory report, including ethanol production is set for 9:30 a.m. CDT, Wednesday's only significant report. Traders will continue to keep close watch on weather and events in Ukraine. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 158.64 at 35,314.49 and the S&P 500 Index down 19.06 at 4,499.38. The 10-Year Treasury yield ended at 4.03%. Early Wednesday, September Dow Jones futures are up 88 points. European markets are higher with the spot futures of the London FTSE 100 trading up 0.86%, spot futures of Germany's DAX trading up 1.35% and spot futures of France's CAC Index trading up 1.46%. Asian markets are lower with Japan's Nikkei 225 index down 0.53% and China's Shanghai Composite Index down 0.49%.