DTN Early Word Grains 07/05 05:56

DTN Early Word Grains 07/05 05:56 War Drums Along the Potomac Grains were closed overnight for Tuesday's holiday, scheduled to open at 8:30 am (CT) Wednesday. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: Grains were closed overnight for Tuesday's holiday, scheduled to open at 8:30 am (CT) Wednesday. CME Globex Recap: As the smoke from the previous night's fireworks begins to clear, headlines regarding a threat of war with North Korea become visible. Early Wednesday finds markets not paying that much attention to the new threats with the U.S. dollar index showing a small rally and gold under pressure once again. Crude oil as fallen; the minor (short-term) uptrend that has created so much hubbub nearing its end. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 129.64 points (0.6%) higher at 21,479.27, the NASDAQ Composite lost 30.36 points (0.5%) to 6,110.06, and the S&P 500 rallied 5.60 points (0.2%) to 2,429.01 Monday. DJIA futures were 1 point lower early Wednesday morning. Asian markets closed mostly higher with Japan's Nikkei up 49.28 points (0.3%), Hong Kong's Hang Seng gaining 132.96 points (0.5%), and China's Shanghai Composite up 24.33 points (0.8%). European markets were trading mixed with London's FTSE 100 down 6.60 points (0.1%), Germany's DAX up 6.02 points, and France's CAC 40 rallying 5.20 points (0.1%). The euro was 0.0030 lower at 1.1317 while the U.S. dollar index gained 0.22 to 96.47. September 30-year T-Bonds were 2/32 lower at 153'00 while August gold lost another $1.20 to $1,218.00. Crude oil was $0.70 lower at $46.37 while Brent crude lost $0.67 to $48.94. China's Dalian soybean futures were lower while Malaysian palm oil futures were higher overnight.