DTN Early Word Grains 07/24 05:48

DTN Early Word Grains 07/24 05:48 Grain Markets Mixed on Heels of Large, Two-Day Rally in Corn, Soybeans December corn is steady, November soybeans are down 4 1/2 cents, September KC wheat is down 2 1/4 cents, September Chicago wheat is up 1/2 cent and September Minneapolis wheat is down 2 1/2 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is steady, November soybeans are down 4 1/2 cents, September KC wheat is down 2 1/4 cents, September Chicago wheat is up 1/2 cent and September Minneapolis wheat is down 2 1/2 cents. CME GLOBEX RECAP: World equity markets are lower Wednesday morning as PMI readings from Germany were very weak, while other countries had PMI's that were lower than trade expectations. U.S. markets are also lower after a choppy day on Tuesday that ultimately saw all U.S. markets close on the negative side. On Tuesday, the U.S. saw a decline in new home sales that were below trade expectations. This indicates a weakening economy, but it also is data that could help the Fed decide to lower rates sooner. We will get inventory reports, new home sales, and U.S. flash PMI's Wednesday morning. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 57.35 at 40,358.09 and the S&P 500 down 8.67 at 5,555.74. The 10-Year Treasury yield ended at 4.24%. Early Wednesday, the September Dow Jones Futures are down 163 points. European markets are lower with the spot futures of London's FTSE 100 trading down 0.12%, spot futures of Germany's DAX is trading down 0.61% and the spot futures of France's CAC 40 Index down 1.54%. Asian markets are lower with Japan's Nikkei 225 Index down 1.11% and China's Shanghai Composite Index down 0.46%.