DTN Early Word Grains 08/09 05:54

DTN Early Word Grains 08/09 05:54 Just Another Day December corn was fractionally higher, November soybeans were 3 cents higher, and September Chicago (SRW) wheat was 2 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was fractionally higher, November soybeans were 3 cents higher, and September Chicago (SRW) wheat was 2 cents higher. CME Globex Recap: Looking at overnight trading ranges one could question whether or not the grain and oilseed markets were even open, and if they were, why? Corn moved within a 2-cent range, soybeans 4 cents, and Chicago wheat 4 cents. It looks like the complex is setting up another low volume Wednesday trade, particularly with USDA's August reports set for release Thursday. Cotton was under pressure while softs in general were mixed. Energies were also mostly higher while gold posted a sharp rally on increased threats of nuclear war between the United States and North Korea. This threat could be the factor that finally puts a top in the 8-year rally of the Dow Jones Industrial Average. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 33.08 points (0.1%) lower at 22,085.34, the NASDAQ Composite lost 13.31 points (0.2%) to 6,370.46, and the S&P 500 dipped 5.99 points (0.2%) to 2,474.92 Tuesday. DJIA futures were 44 points lower early Wednesday morning. Asian markets closed lower in reaction to the increased tensions between the U.S. and North Korea with Japan's Nikkei down 257.30 points (1.3%), Hong Kong's Hang Seng losing 97.82 points (0.4%), and China's Shanghai Composite down 6.30 points (0.2%). European markets were trading lower with London's FTSE 100 off 64.34 points (0.9%), Germany's DAX off 159.63 points (1.2%), and France's CAC 40 losing 93.17 points (1.8%). The euro was 0.0009 lower at 1.1743 while the U.S. dollar index lost 0.06 to 93.54. September 30-year T-Bonds were 24/32 higher at 154'15 while December gold rallied $10.40 to $1,273.00. Crude oil was $0.23 higher at $49.40 while Brent crude gained $0.25 to $52.39. China's Dalian soybean and Malaysian palm oil futures were both higher again overnight.