DTN Early Word Grains 08/28 06:09

DTN Early Word Grains 08/28 06:09 Grains Mixed as Waiting Game Continues December corn is down 1/2 cent per bushel, November soybeans are up 2 cents, and December KC wheat is down 3 1/2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: December corn is down 1/2 cent per bushel, November soybeans are up 2 cents, and December KC wheat is down 3 1/2 cents. CME Globex Recap: Financial markets were quiet outside of the U.K. where Prime Minister Boris Johnson planned to suspend parliament for at least a month in order to curtail efforts to pass legislation and avoid a no-deal Brexit on Oct. 31. The news hit the British pound hard, which is down close to 0.70% overnight, as the prospect for a hard exit from the European Union from the U.K. becomes more of a reality. Grain markets are mixed with corn oscillating around unchanged, soybeans are higher and wheat markets are mostly lower. Volatility has been sucked from our space in the last seven- to-10 days as we are back to a waiting game. Traders want another WASDE update from the USDA in September as well as a better read on the first frost potential, which began showing up in Tuesday market letters. When traders return from the Labor Day holiday, they should have a good look at the full month of September as well as a peek into October, placing more confidence in any frost potential. Otherwise, the roller coaster of trade-war headlines continues. After Monday's head fake, it would seem the market is back to assuming nothing will get resolved in the near term. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average down 120.93 at 25,777.90 and the S&P 500 down 9.22 at 2,878.38 while the 10-year Treasury yield ended at 1.49%. Early Wednesday, the September DJIA futures are up 18 points. Asian markets are mixed with Japan's Nikkei 225 up 23.34 (0.11%) and China's Shanghai Composite down 8.44 points (0.29%). European markets are lower with London's FTSE 100 up 13.42 points (0.19%), Germany's DAX down 91.11 points (0.77%) and France's CAC 40 down 34.82 points (0.65%). The September euro is down 0.000 at 1.110 and the September U.S. dollar index is up 0.103 at 98.010. The September 30-year T-Bond is up 20/32nds, while December gold is down $0.30 at $1,551.50 and October crude oil is up $0.85 at $55.78. Soybeans on China's Dalian Exchange were down 0.52% while soybean meal was up 0.2%.