DTN Early Word Grains 09/01 05:42

DTN Early Word Grains 09/01 05:42 Grain Prices Higher Due to Continued Hot Forecast December corn is up 1 3/4 cents per bushel, November soybeans are up 11 1/4 cents, December KC wheat is up 4 1/2 cents, December Chicago wheat is up 3 3/4 cents and December Minneapolis wheat is up 1 cent. By Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is up 1 3/4 cents per bushel, November soybeans are up 11 1/4 cents, December KC wheat is up 4 1/2 cents, December Chicago wheat is up 3 3/4 cents and December Minneapolis wheat is up 1 cent. CME GLOBEX RECAP: World equity markets are mixed Friday morning, but U.S. markets are higher ahead of the monthly jobs report that will be released at 7:30 AM CDT Friday morning. On Thursday, we saw the release of the PCE inflation data which was mostly in line with trade estimates. For July the PCE was up 0.2% and year-over-year it was up 4.2%. While these numbers were in line with trade estimates, the market seeing a 4.2% year-over-year increase triggered some selling by equity traders as that is an estimate that is still well above the Fed target of 2%. Traders would like to see a monthly number fall from 0.2% to 0.1%, which would put an annualized, forward-looking estimate below 2%. On the jobs report that will be released Friday morning, the street is looking for 170,000 new jobs, an unemployment rate of 3.5%, with hourly wages up 0.3% and year over year wages up 4.4%. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average down 168.33 at 34,721.91 and the S&P 500 down 7.21 at 4,507.66, The 10-Year Treasury yield ended at 4.09%. Early Friday, the September Dow Jones Futures are up 124 points. European markets are mixed with the spot futures of London's FTSE 100 trading up 0.44%, spot futures of Germany's DAX is trading down 0.27% and the spot futures of France's CAC 40 Index up 0.12%. Asian markets are higher with Japan's Nikkei 225 Index up 0.28% and China's Shanghai Composite Index up 0.43%.