DTN Early Word Grains 08/03 05:56

DTN Early Word Grains 08/03 05:56 Red Dirt Road December corn was 3 cents lower, November soybeans were 15 cents lower, and September Chicago (SRW) wheat was 3 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 3 cents lower, November soybeans were 15 cents lower, and September Chicago (SRW) wheat was 3 cents lower. CME Globex Recap: Grain and oilseed markets were back on a familiar path early Thursday morning, with soybeans posting a solid sell-off. As discussed Wednesday, the complex continues to follow technical patterns that would suggest soybeans could be nearing an end to the short-term downtrend. Outside commodities were mixed with softs mostly higher, energies mostly higher, and metals lower. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 52.32 points (0.2%) higher at 22,016.24, the NASDAQ Composite dipped 0.29 to 6,362.65, and the S&P 500 added 1.22 points to 2,477.57 Wednesday. DJIA futures were 8 points lower early Thursday morning. Asian markets closed lower with Japan's Nikkei down 50.78 points (0.3%), Hong Kong's Hang Seng losing 76.37 points (0.3%), and China's Shanghai Composite off 12.13 points (0.4%). European markets were trading mixed with London's FTSE 100 up 7.14 points (0.1%), Germany's DAX off 25.65 points (0.2%), and France's CAC 40 up 10.74 points (0.2%). The euro was 0.0014 lower at 1.1842 while the U.S. dollar index gained 0.04 to 92.93. September 30-year T-Bonds were 3/32 lower at 154'04 while December gold dropped $9.20 to $1,269.20. Crude oil was $0.21 higher at $49.80 while Brent crude added $0.26 to $52.62. China's Dalian soybean and Malaysian palm oil futures were both lower again overnight.