DTN Early Word Grains 08/21 05:50

DTN Early Word Grains 08/21 05:50 Grain Markets Higher on a Dry Forecast, Ideas That High Yields Have Been Priced into Futures December corn is up 2 cents per bushel, November soybeans are up 5 1/4 cents, December KC wheat is up 1 3/4 cents, December Chicago wheat is up 3/4 cent and December Minneapolis wheat is up 2 3/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is up 2 cents per bushel, November soybeans are up 5 1/4 cents, December KC wheat is up 1 3/4 cents, December Chicago wheat is up 3/4 cent and December Minneapolis wheat is up 2 3/4 cents. CME GLOBEX RECAP: World equity markets are mixed as Tuesday's session saw some profit taking set in after a very strong two-week rally. The focus will continue to be on Friday's speech by Fed Chairman Powell where traders will be looking for clues as to the timing and magnitude of future rate cuts. There were no new economic data points released on Tuesday. Wednesday the trade will get an opportunity to read the minutes of the Fed meeting in July. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 61.56 at 40,834.97 and the S&P 500 down 11.13 at 5,597.12. The 10-Year Treasury yield ended at 3.82%. Early Wednesday, the September Dow Jones Futures are up 53 points. European markets are higher with the spot futures of London's FTSE 100 trading up 0.2%, spot futures of Germany's DAX is trading up 0.36% and the spot futures of France's CAC 40 Index up 0.29%. Asian markets are lower with Japan's Nikkei 225 Index down 0.29% and China's Shanghai Composite Index down 0.35%.