DTN Early Word Grains 06/28 06:02

DTN Early Word Grains 06/28 06:02 'Boy, That Escalated Quickly' December corn was 7 cents higher, November soybeans were 23 cents higher, and September Kansas City wheat was 6 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 7 cents higher, November soybeans were 23 cents higher, and September Kansas City wheat was 6 cents higher. CME Globex Recap: It doesn't take Ron Burgundy to see that the bounce in soybeans escalated quickly overnight. Contracts were near session highs early Tuesday morning, providing spillover support to both corn and wheat. Outside markets saw a reversal of sorts with the U.S. dollar index and gold lower while DJIA futures and crude oil were higher. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 260.51 points lower at 17,140.24, the NASDAQ Composite lost 113.54 points to 4,594.44 and the S&P 500 dropped 36.87 points to close at 2,000.54 Monday. DJIA futures were 190 points higher overnight. Asian markets were mostly higher with Japan's Nikkei up 13.93 points (0.1%) while China's Shanghai Composite gained 16.85 points (0.6%). European markets were higher with London's FTSE 100 up 139.86 points (2.3%), Germany's DAX 195.04 points (2.1%) higher, and Frances CAC 40 gaining 101.61 points (2.5%). The U.S. dollar index was down 0.668 to 95.876. Crude oil rallied $1.27 to $47.60 while Brent crude gained $1.25 to $48.41. August gold was $12.00 lower at $1,312.70. China's Dalian soybean futures were higher while Malaysian palm oil futures were lower again overnight.