DTN Early Word Grains 07/31 06:02

DTN Early Word Grains 07/31 06:02 More Fireworks to Start the Last of July December corn was 5 cents lower, November soybeans were 12 cents lower, and September Minneapolis (HRS) wheat was 8 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 5 cents lower, November soybeans were 12 cents lower, and September Minneapolis (HRS) wheat was 8 cents lower. CME Globex Recap: Grain and oilseed markets posted sharp sell-offs overnight into Monday morning, despite a weather map that was mostly unchanged from a week ago. The seven-day total precipitation map showed some areas received rains while other key growing areas did not. Lower prices looks to be tied to lower temperatures, as well as a higher U.S. dollar Monday morning. Softs and metals were mostly higher though cotton and gold were both lower. The energy complex was mixed with crude oil and natural gas under pressure. DJIA futures posted a solid rally overnight. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 33.76 points (0.2%) higher at 21,830.31, the Nasdaq Composite lost 7.51 points (0.1%) to 6,374.68, and the S&P 500 dipped 3.32 points (0.1%) to 2,472.10 Friday. DJIA futures were 41 points higher early Monday morning. Asian markets closed mostly higher with Japan's Nikkei down 34.66 points (0.2%), Hong Kong's Hang Seng gained 344.60 points (1.3%), and China's Shanghai Composite adding 19.79 points (0.6%). European markets were trading mostly higher with London's FTSE 100 up 35.69 points (0.5%), Germany's DAX up 16.14 points (0.1%), and France's CAC 40 off 1.84 points. The euro was 0.0020 lower at 1.1730 while the U.S. dollar index rallied 0.20 to 93.46. September 30-year T-Bonds were 3/32 lower at 153'03 while December gold dropped $1.60 to $1,273.70. Crude oil was $0.07 lower at $49.64 while Brent crude dipped $0.08 to $52.44. China's Dalian soybean and Malaysian palm oil futures were both higher overnight.