DTN Early Word Grains 07/12 05:31

DTN Early Word Grains 07/12 05:31 Grain Markets Lower Ahead of New July USDA Supply and Demand Data December corn is down 3 1/4 cents per bushel, November soybeans are down 3 cents, September KC wheat is down 10 cents, September Chicago wheat is down 7 cents and September Minneapolis wheat is down 6 1/2 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is down 3 1/4 cents per bushel, November soybeans are down 3 cents, September KC wheat is down 10 cents, September Chicago wheat is down 7 cents and September Minneapolis wheat is down 6 1/2 cents. CME GLOBEX RECAP: World equity markets are mostly higher in the aftermath of Thursday's CPI report that showed inflation slowing in the month of June. The CPI was a negative 0.1%, compared to pre-report estimates at a positive 0.1% with the year over year CPI up 3.0% compared to expectations at 3.1%. Core CPI was up 0.1%, compared to expectations at 0.2%. All in all, it was a report that increases expectations of a rate cut in September, especially after Chairman Powell's dovish comments before Congress this week. Friday morning, we will see the PPI report along with consumer sentiment. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average up 32.39 at 39,753.75 and the S&P 500 down 49.37 at 5,584.54. The 10-Year Treasury yield ended at 4.19%. Early Friday, the September Dow Jones Futures are up 44 points. European markets are higher with the spot futures of London's FTSE 100 trading up 0.14%, spot futures of Germany's DAX is trading up 0.18% and the spot futures of France's CAC 40 Index up 0.58%. Asian markets are mixed with Japan's Nikkei 225 Index down 2.45% and China's Shanghai Composite Index up 0.03%.