DTN Early Word Grains 08/21 05:42

DTN Early Word Grains 08/21 05:42 Hot and Dry Weather Returns, Sends Row Crop Prices Higher 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. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: December corn was up 5 cents, November soybeans were up 24 cents and December KC wheat was down 3 cents. CME GLOBEX RECAP: Early Monday, Dow Jones futures are trading higher along with stocks in Europe. China's Shanghai Composite Index fell 1.2% to a new low in 2023 after the People's Bank of China cut the prime rate on one-year loans from 3.55% to 3.45%, reported RTTNews.com. According to the Wall Street Journal, economists are lowering their growth targets for China's economy to less than 5% in 2023. As usual, USDA's weekly export inspections will be out at 10 a.m. CDT, followed by USDA's Crop Progress report at 3 p.m. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 25.83 at 34,500.66 and the S&P 500 Index down 0.65 at 4,369.71. The 10-Year Treasury yield ended at 4.25%. Early Monday, September Dow Jones futures are up 135 points. European markets are higher with the spot futures of the London FTSE 100 trading up 0.52%, spot futures of Germany's DAX trading up 0.83% and spot futures of France's CAC Index trading up 1.22%. Asian markets are mixed with Japan's Nikkei 225 index up 0.37% and China's Shanghai Composite Index down 1.24% at its lowest close in 2023.