DTN Early Word Grains 07/11 05:58

DTN Early Word Grains 07/11 05:58 The Return of Summer, At Least for a Day December corn was 4 cents higher, November soybeans were 12 cents higher, and September Chicago wheat was 4 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 4 cents higher, November soybeans were 12 cents higher, and September Chicago wheat was 4 cents higher. CME Globex Recap: Grain markets were higher overnight despite a continued rally in the U.S. dollar index. Contracts opened the week higher and stayed higher, for the most part, supported by weather forecasts calling for summer like temperatures and variable precipitation across the U.S. Midwest. Outside markets were mixed with gold posting a small gain, though well off its session high, and crude oil lower. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 250.86 points higher at 18,146.74, the NASDAQ Composite gained 79.95 points to 4,956.76 and the S&P 500 rallied 32.00 points to close at 2,129.90 Friday. DJIA futures were 70 points higher overnight. Asian markets were higher with Japan's Nikkei up 601.84 points (4.0%) while China's Shanghai Composite gained 6.82 points (0.3%). European markets were mostly higher with London's FTSE 100 up 43.27 points (0.7%), Germany's DAX was 129.86 points (1.3%) higher, and France's CAC 40 gained 37.34 points (0.9%). The U.S. dollar index rallied 0.403 to 96.705. Crude oil fell $0.60 to $44.81 while Brent crude was off $0.52 to $46.24. August gold was $2.20 higher at $1,360.60. China's Dalian soybean futures were higher and Malaysian palm oil futures were lower overnight.