DTN Early Word Grains 08/24 05:59

DTN Early Word Grains 08/24 05:59 Another Bearish Rout Monday Morning December corn was 5 cents lower, November soybeans were 17 cents lower, and December Chicago wheat was 7 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 5 cents lower, November soybeans were 17 cents lower, and December Chicago wheat was 7 cents lower. CME Globex Recap: Once again, growing concerns over China's economy led to a bearish rout in global markets. Early Monday saw sharp sell-offs in world equities, currencies, and commodities with few (if any) showing green. Corn posted early gains until Asian stock markets opened lower and sparked renewed selling. The U.S. dollar index was down about 0.820 early Monday. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 530.94 points lower Friday at 16,459.75. Asian markets were lower with the Nikkei down 895.15 points (4.6%) at 18,540.68. China's Shanghai Composite was down 297.84 points (8.5%). European markets were also lower. The U.S. dollar index was 0.870 lower at 94.138. Crude oil was $1.57 lower at $38.88 while Brent crude was $1.75 lower at $43.71. December gold was $4.20 lower at $1,155.40. Soybeans at the Dalian Exchange and Malaysian palm oil futures were lower.