DTN Early Word Grains 07/12 06:00

DTN Early Word Grains 07/12 06:00 "Ok Campers, Rise and Shine..." December corn was 1 cent lower, November soybeans were fractionally higher, and September Chicago wheat was 1 cent lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 1 cent lower, November soybeans were fractionally higher, and September Chicago wheat was 1 cent lower. CME Globex Recap: In what seems to be a case of serious dj vu, grain markets were quietly lower ahead of another round of USDA reports. Less than two weeks after the much anticipated June 30 Quarterly Stocks and Acreage reports, traders are set for follow-up numbers in Tuesday's monthly Supply and Demand and Crop Production reports. Grains were narrowly mixed early Tuesday, though soybean contracts posted wide, double-digit trading ranges overnight. Outside markets were supported by a sell-off in the U.S. dollar index. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 80.19 points higher at 18,226.93, the NASDAQ Composite gained 31.88 points to 4,988.64 and the S&P 500 rallied 7.26 points to close at 2,137.16 Monday. DJIA futures were 73 points higher overnight. Asian markets were higher with Japan's Nikkei up 386.83 points (2.5%) while China's Shanghai Composite gained 54.46 points (1.8%). European markets were mostly higher with London's FTSE 100 down 3.01 points, Germany's DAX was 147.13 points (1.5%) higher, and France's CAC 40 gained 68.71 points (1.6%). The U.S. dollar index fell 0.400 to 96.171 as Britain's sterling rallied. Crude oil gained $0.93 to $45.69 while Brent crude was up $1.15 to $47.40. August gold was $2.80 lower at $1,353.80. China's Dalian soybean futures were mixed while Malaysian palm oil futures continued lower overnight.