DTN Early Word Grains 07/01 05:56

DTN Early Word Grains 07/01 05:56 Back to 'Normal' December corn was 1 cent lower, November soybeans were 4 cents lower, and September Chicago wheat was 5 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 1 cent lower, November soybeans were 4 cents lower, and September Chicago wheat was 5 cents lower. CME Globex Recap: Grain markets could return to normal trade Friday, whatever that is. With a three-day holiday weekend fast approaching, traders will likely turn their attention back to weather forecasts. The overnight session saw markets on the defensive, quietly, despite a sell-off in the U.S. dollar index. Outside commodities were mixed with gold posting a solid rally while crude oil was lower. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 235.31 points higher at 17,929.99, the NASDAQ Composite gained 63.42 points to 4,482.67 and the S&P 500 rallied 28.09 points to close at 2,098.86 Thursday. DJIA futures were 50 points lower overnight. Asian markets were mostly higher with Japan's Nikkei up 105.56 points (0.7%) while China's Shanghai Composite gained 2.87 points (0.1%). European markets were mixed with London's FTSE 100 up 16.50 points (0.3%), Germany's DAX was 13.14 points (0.1%) higher, and Frances CAC 40 lost 1.48 points. The U.S. dollar index was down 0.293 to 95.850. Crude oil dropped $0.33 to $48.00 while Brent crude was off $0.32 to $49.39. August gold was $15.40 higher at $1,336.00. China's Dalian soybean futures and Malaysian palm oil futures were higher again overnight.