DTN Early Word Grains 07/06 06:05

DTN Early Word Grains 07/06 06:05 Like a Cold Shower Before Breakfast December corn was 6 cents lower, November soybeans were 4 cents lower, and July Kansas City (HRW) wheat was 17 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 6 cents lower, November soybeans were 4 cents lower, and July Kansas City (HRW) wheat was 17 cents lower. CME Globex Recap: No matter how long one watches grain markets, they can still shock you at times. Such was the case Thursday morning, when the initial look at where things were sitting was like stepping into an ice cold shower to start the day. Despite mostly bullish, holiday-delayed weekly crop condition numbers from NASS Wednesday afternoon, grains (including oats) showed a solid sell-off overnight. Meanwhile cotton, crude oil, and gold were all supported by a slightly weaker U.S. dollar and continued pressure on DJIA futures. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 1.10 points lower at 21,478.17, the NASDAQ Composite added 40.80 points (0.7%) to 6,150.86, and the S&P 500 rallied 3.53 points (0.2%) to 2,432.54 Wednesday. DJIA futures were 82 points lower early Thursday morning. Asian markets closed mixed with Japan's Nikkei down 87.57 points (0.4%), Hong Kong's Hang Seng losing 56.75 points (0.2%), and China's Shanghai Composite up 5.31 points (0.2%). European markets were trading lower with London's FTSE 100 off 0.67 point, Germany's DAX down 92.00 points (0.7%), and France's CAC 40 losing 50.02 points (1.0%). The euro was 0.0012 higher at 1.1363 while the U.S. dollar index dipped 0.08 to 96.11. September 30-year T-Bonds were 17/32 lower at 152'26 while August gold gained $2.60 to $1,224.20. Crude oil was $0.62 higher at $45.75 while Brent crude added $0.63 to $48.42. China's Dalian soybean futures were lower while Malaysian palm oil futures were higher again overnight.