DTN Early Word Grains 08/26 05:50

DTN Early Word Grains 08/26 05:50 Grain Markets Lower on Yield Optimism December corn is down 4 1/2 cents per bushel, November soybeans are down 8 cents, December KC wheat is down 4 cents, December Chicago wheat is down 3 cents and December Minneapolis wheat is down 5 1/2 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is down 4 1/2 cents per bushel, November soybeans are down 8 cents, December KC wheat is down 4 cents, December Chicago wheat is down 3 cents and December Minneapolis wheat is down 5 1/2 cents. CME GLOBEX RECAP: World equity markets are mixed Monday morning after Friday's very strong session in the aftermath of Fed Chairman Powell's speech at Jackson Hole. Chairman Powell was clear in his speech that rate cuts were going to come and the only question now for the trade is whether that first cut in September will be 25 or 50 basis points. The market is now pricing in a full 1% decline in rates by the end of 2024, which sparked another equity rally on Friday. This week, there are several economic reports on the calendar. Durable goods will be released Monday morning and consumer confidence is out Tuesday morning. Thursday is jobless claims, the U.S. trade balance, retail and wholesale inventories, and the 2nd quarter GDP revision. On Friday we get the PCE data that is the Fed's most favored measure of inflation. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 462.30 at 41,175.08 and the S&P 500 up 63.97 at 5,634.61. The 10-Year Treasury yield ended at 3.81%. Early Monday, the September Dow Jones Futures are up 31 points. European markets are mixed with the spot futures of London's FTSE 100 is steady, spot futures of Germany's DAX is trading down 0.31% and the spot futures of France's CAC 40 Index up 0.07%. Asian markets are mixed with Japan's Nikkei 225 Index down 0.66% and China's Shanghai Composite Index up 0.04%.