DTN Early Word Grains 08/02 05:55

DTN Early Word Grains 08/02 05:55 T'd Up December corn was 3 cents higher, November soybeans were 6 cents higher, and September Minneapolis (HRS) wheat was 3 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 3 cents higher, November soybeans were 6 cents higher, and September Minneapolis (HRS) wheat was 3 cents higher. CME Globex Recap: After Tuesday's sharp break, a move tied to short-term technical signals on daily charts, the soybean market was able to stabilize overnight into Wednesday morning. This provided light support to corn and wheat markets as well. Outside commodities were mostly lower, though cotton, lumber, and heating oil were able to post gains. The U.S. dollar index was down while higher DJIA futures point to continued strength when equities open later in the morning. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 72.80 points (0.3%) higher at 21,963.92, the NASDAQ Composite gained 14.82 points (0.2%) to 6,362.94, and the S&P 500 added 6.05 points (0.2%) to 2,476.35 Tuesday. DJIA futures were 45 points higher early Wednesday morning. Asian markets closed mostly higher with Japan's Nikkei up 94.25 points (0.5%), Hong Kong's Hang Seng gaining 67.15 points (0.2%), and China's Shanghai Composite down 7.58 points (0.2%). European markets were trading mostly lower with London's FTSE 100 down 28.51 points (0.4%), Germany's DAX off 23.43 points (0.2%), and France's CAC 40 off 13.38 points (0.3%). The euro was 0.0033 higher at 1.1834 while the U.S. dollar index slipped 0.07 to 92.96. September 30-year T-Bonds were 10/32 lower at 153'23 while December old dropped $6.50 to $1,272.90. Crude oil was $0.11 lower at $49.05 while Brent crude dipped $0.01 to $51.77. China's Dalian soybean and Malaysian palm oil futures were both lower overnight.