DTN Early Word Grains 06/20 05:55

DTN Early Word Grains 06/20 05:55 Weekend Weather Runs and a Brexit Flip-Flop December corn was 8 cents lower, November soybeans beans were 15 cents lower, and July Kansas City wheat was 4 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 8 cents lower, November soybeans beans were 15 cents lower, and July Kansas City wheat was 4 cents lower. CME Globex Recap: The solid sell-off in grains Sunday night into Monday morning was the other side of the same coin as the sharp rally coming out of the previous weekend. Both were reactions to weekend weather, with traders this time around focusing on Sunday models that increase the chance of rains across the U.S. Midwest this week. This offset potential support from a sharp break in the U.S. dollar index tied to new polls decreasing the possibility of England's Brexit later this week. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 57.94 points lower at 17,675.16, the NASDAQ Composite lost 44.58 points to 4,800.34 and the S&P 500 lost 6.77 points to close at 2,071.21 Friday. However, Monday is a different story due to the new Brexit polls with DJIA futures 205 points higher overnight. Asian markets were higher with Japan's Nikkei up 531.16 points (3.4%) while China's Shanghai Composite rallied 3.70 points (0.1%). European markets were also higher with London's FTSE 100 up 226.93 points (3.8%). The U.S. dollar index was down 0.544 to 93.662. Crude oil rallied $0.79 to $48.77 while Brent crude gained $0.81 to $49.98. August gold was $8.70 lower at $1,286.10. China's Dalian soybean futures were higher while Malaysian palm oil futures were lower overnight.