DTN Early Word Grains 08/18 05:45

DTN Early Word Grains 08/18 05:45 Grain Prices Higher on a Hot and Dry Forecast for This Weekend, Next Week December corn is up 2 cents per bushel, November soybeans are up 12 cents, December KC wheat is up 8 1/2 cents, December Chicago wheat is up 10 1/2 cents and December Minneapolis wheat is up 7 cents. By Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is up 2 cents per bushel, November soybeans are up 12 cents, December KC wheat is up 8 1/2 cents, December Chicago wheat is up 10 1/2 cents and December Minneapolis wheat is up 7 cents. CME GLOBEX RECAP: World equity markets are lower this morning as stocks continue to be pressured on renewed recession worries driven by continued poor Chinese economic data. Traders are also concerned about higher US interest rates due to some sectors of the economy where inflation isn't coming down as quickly as traders might hope. Interest rates have moved higher this week, as has the US dollar which makes US exports less competitive. This will be the third consecutive week of lower closes in the major US indexes. OUTSIDE MARKETS: Previous close Thursday showed the Dow Jones Industrial Average down 290.91 at 34,474.83 and the S&P 500 down 33.97 at 4,370.36, The 10-Year Treasury yield ended at 4.31%. Early Friday, the September Dow Jones Futures are down 33 points. European markets are lower with the spot futures of London's FTSE 100 trading down 0.64%, spot futures of Germany's DAX is trading down 0.52% and the spot futures of France's CAC 40 Index down 0.69%. Asian markets are lower with Japan's Nikkei 225 Index down 0.55% and China's Shanghai Composite Index down 1%.