DTN Early Word Grains 08/27 05:47

DTN Early Word Grains 08/27 05:47 Grains Lower on Yield Optimism, Better Rain Chance in Eastern Corn Belt December corn is down 1 cent per bushel, November soybeans are down 2 1/2 cents, December KC wheat is down 1 3/4 cents, December Chicago wheat is down 3 cents and December Minneapolis wheat is down 1 1/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is down 1 cent per bushel, November soybeans are down 2 1/2 cents, December KC wheat is down 1 3/4 cents, December Chicago wheat is down 3 cents and December Minneapolis wheat is down 1 1/4 cents. CME GLOBEX RECAP: World equity markets are mixed but mostly higher, Tuesday. Yesterday, Mary Daly of the Fed did an interview reiterating the sentiment that "the time is now" for rate cuts. There were enough other comments about labor conditions and other economic conditions to make a 50-point cut less certain, and tech stocks did pull back Monday. Meanwhile, the Dow Jones Industrial Average made a new lifetime high. Monday's durable goods orders were up 9.9%, well above trade estimates of 4.4%, which helped drive conclusions that the underlying economy still has strength in certain sectors. Tuesday morning the S&P Case Shiller home price index and consumer confidence reports will be released. There are no major reports coming on Wednesday. Traders are looking ahead to the PCE numbers that will be out on Friday morning. OUTSIDE MARKETS: Previous close Monday showed the Dow Jones Industrial Average up 65.44 at 41,240.52 and the S&P 500 down 17.77 at 5,616.84, The 10-Year Treasury yield ended at 3.82%. Early Tuesday, the September Dow Jones Futures are down 31 points. European markets are mixed with the spot futures of London's FTSE 100 trading up 0.04%, spot futures of Germany's DAX is trading up 0.1% and the spot futures of France's CAC 40 Index down 0.03%. Asian markets are mixed with Japan's Nikkei 225 Index up 0.47% and China's Shanghai Composite Index down 0.24%.