DTN Early Word Grains 06/17 05:55

DTN Early Word Grains 06/17 05:55 Business as Usual, For Weather Markets that Is December corn was 4 cents higher, November soybeans beans were 12 cents higher, and July Kansas City wheat was 5 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 4 cents higher, November soybeans beans were 12 cents higher, and July Kansas City wheat was 5 cents higher. CME Globex Recap: That grains were higher overnight into Friday morning is not unusual considering the current weather market, as traders position themselves based on weekend forecasts. Add to that this week's sell-off in soybeans leading to a round of pre-weekend short-covering, and the double-digit rally by new-crop November makes more sense. Outside markets were mixed with gold continuing to fall back from Thursday's high while crude oil rallied. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 92.93 points higher at 17,733.10, the NASDAQ Composite gained 9.99 points to 4,844.92 and the S&P 500 rallied 6.48 points to close at 2,077.98 Thursday. DJIA futures were 17 points lower overnight. Asian markets were higher with Japan's Nikkei up 165.52 points (1.1%) while China's Shanghai Composite rallied 12.29 points (0.4%). European markets were also higher with London's FTSE 100 up 72.74 points (1.2%). The U.S. dollar index was down 0.160 to 94.409. Crude oil rallied $0.64 to $46.85 while Brent crude gained $0.86 to $48.05. August gold was $10.40 lower at $1,288.00. China's Dalian soybean futures were lower while Malaysian palm oil futures were higher overnight.