DTN Early Word Grains 07/29 05:49

DTN Early Word Grains 07/29 05:49 Grain Markets Lower as Extended Forecasts Moderate December corn is down 1 1/4 cents per bushel, November soybeans are down 15 cents, September KC wheat is up 1 3/4 cents, September Chicago wheat is down 2 3/4 cents and September Minneapolis wheat is down 1 1/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is down 1 1/4 cents per bushel, November soybeans are down 15 cents, September KC wheat is up 1 3/4 cents, September Chicago wheat is down 2 3/4 cents and September Minneapolis wheat is down 1 1/4 cents. CME GLOBEX RECAP: World equity markets are mixed, but U.S. markets are higher after a strong close to the week on Friday. Traders have been focused on economic data that has shown a slowing economy but believe that rate cuts are coming as soon as September. This week's main focus will be on the meeting of the Federal Reserve, where traders believe that policy will remain unchanged. The major focus will be on the tone of post meeting communique and Fed Chairman Powell's press conference. Traders do believe that there will be a rate cut in September and will be looking for clues to support that belief. Economic data this week includes July consumer confidence and job openings on Tuesday. Wednesday brings ADP employment and pending home sales along with the Federal Reserve press conference. Thursday will give U.S. Jobless claims, U.S. productivity, construction spending, and the ISM manufacturing PMI. Finally on Friday, factory orders and the U.S. employment report will be released. In agriculture, in addition to the regular weekly reports, we will get the USDA Grain Crushing and Co-Products report on Thursday afternoon, as well as the Fats and Oils-Oilseed crushing report. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 654.27 at 40,589.34 and the S&P 500 up 59.88 at 5,459.10. The 10-Year Treasury yield ended at 4.20%. Early Monday, the September Dow Jones Futures are up 159 points. European markets are mixed with the spot futures of London's FTSE 100 trading up 0.89%, spot futures of Germany's DAX is trading up 0.36% and the spot futures of France's CAC 40 Index down 0.09%. Asian markets are higher with Japan's Nikkei 225 Index up 2.13% and China's Shanghai Composite Index up 0.03%.