DTN Early Word Grains 08/25 05:55

DTN Early Word Grains 08/25 05:55 Storms a Brewin' December corn was 1 cent lower, November soybeans were 2 cents lower, and December Chicago (SRW) wheat was 1 cent higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 1 cent lower, November soybeans were 2 cents lower, and December Chicago (SRW) wheat was 1 cent higher. CME Globex Recap: Hurricane Harvey is expected to make landfall early Saturday morning, southeast of Corpus Christi, Texas. By then the storm is expected to strengthen to a category 3 hurricane, though it already has the attention of domestic energy markets, most notably gasoline. Elsewhere, financial markets were tentative Friday morning as they prepare for a storm of reaction to speeches from U.S. Fed chairwoman Yellen and European Central Bank president Draghi from Jackson Hole, Wyoming. Corn and soybean markets were lower, due in part to another round of rain storms moving over parts of the western U.S. Midwest. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 28.69 points (0.1%) lower at 21,783.40, the NASDAQ Composite lost 7.08 points (0.1%) to 6,271.33, and the S&P 500 dipped 5.07 points (0.2%) to 2,438.97 Thursday. DJIA futures were 23 points higher early Friday morning. Asian markets closed higher with Japan's Nikkei up 98.84 points (0.5%), Hong Kong's Hang Seng rallying 329.56 points (1.2%), and China's Shanghai Composite gaining 60.01 points (1.8%). European markets were trading higher with London's FTSE 100 up 27.90 points (0.4%), Germany's DAX gaining 50.23 points (0.4%), and France's CAC 40 adding 16.96 points (0.3%). The euro gained 0.0006 to 1.1805 while the U.S. dollar index dipped 0.05 to 93.24. December 30-year T-Bonds were unchanged at 154'277 while December gold rallied $0.90 to $1,292.90. Crude oil was $0.33 higher at $47.76 while Brent crude gained $0.34 to $52.38. RBOB gasoline posted a 5 cent rally ahead of Hurricane Harvey making landfall. China's Dalian soybean futures were higher and Malaysian palm oil futures were lower overnight.