DTN Early Word Grains 08/29 05:46

DTN Early Word Grains 08/29 05:46 Grain Prices Lower After Crop Conditions Declined Less Than Traders Feared December corn is down 1 cent per bushel, November soybeans are down 4 3/4 cents, December KC wheat is down 4 cents, December Chicago wheat is down 1 1/4 cents and December Minneapolis wheat is up 1/2 cent. By Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is down 1 cent per bushel, November soybeans are down 4 3/4 cents, December KC wheat is down 4 cents, December Chicago wheat is down 1 1/4 cents and December Minneapolis wheat is up 1/2 cent. CME GLOBEX RECAP: World equity markets are higher again Tuesday morning. Monday brought a slightly higher U.S. market without any new economic data. Equity traders continued to parse last week's comments from Fed Chairman Powell, who continues to suggest that data will drive future actions by the Fed. It doesn't feel as if traders are concerned about rates being maintained at current levels, but that they would be concerned if further hikes were required. Right now, the data still suggests a slowing rate of inflation, but we will get new PCE data later this week. Tuesday morning, traders will be looking toward the Case-Shiller home price index and Consumer Confidence. We do have a breaking news story that Chinese banks are going to lower interest rates to borrowers for the second time this year in an effort to increase Chinese consumer spending. OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average up 213.08 at 34,559.98 and the S&P 500 up 27.60 at 4,433.31, The 10-Year Treasury yield ended at 4.21%. Early Tuesday, the September Dow Jones Futures are up 14 points. European markets are higher with the spot futures of London's FTSE 100 trading up 1.42%, spot futures of Germany's DAX is trading up 0.37% and the spot futures of France's CAC 40 Index up 0.35%. Asian markets are higher with Japan's Nikkei 225 Index up 0.18% and China's Shanghai Composite Index up 1.2%.