DTN Early Word Grains 01/11 05:57

DTN Early Word Grains 01/11 05:57 China Trumps Charts March corn was 3 cents lower, March soybeans were 3 cents lower, and March Chicago wheat was 2 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: March corn was 3 cents lower, March soybeans were 3 cents lower, and March Chicago wheat was 2 cents lower. CME Globex Recap: China's stock markets moved to a new 4-month low overnight with the Shanghai Composite showing a loss of 5.3% overnight. Grains started the session higher, following through on bullish chart signals from last week in most cases (for more information, see last weekend's Technically Speaking blog), before turning lower again. Outside markets were mostly lower, though DJIA futures were able to hold a small gain despite pressure from overseas markets. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 167.65 lower at 16,346.45 Wednesday while the NASDAQ Composite was down 45.80 points at 4,643.63. DJIA futures were 36 points higher overnight. Asian markets were lower with the Nikkei closed for holiday while China's Shanghai Composite fell 169.71 points (5.3%). European markets were mixed. The U.S. dollar index was down 0.066 at 98.474, up from its 98.252 low. Crude oil was $0.62 lower at $32.54 while Brent crude was $0.74 lower at $32.81. February gold was $5.50 higher at $1,103.40. Dalian soybean futures were mostly lower while Malaysian palm oil futures were lower.