DTN Early Word Grains 07/13 05:57

DTN Early Word Grains 07/13 05:57 Grains Keep Rolling Higher Early Wednesday December corn was 5 cents higher, November soybeans were 14 cents higher, and September Chicago wheat was 6 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 5 cents higher, November soybeans were 14 cents higher, and September Chicago wheat was 6 cents higher. CME Globex Recap: Grain markets were higher with most contracts sitting near overnight session highs early Wednesday morning. Soybeans were once again leading the way, following through on buying seen for much of Tuesday's session. Cotton continued to explode higher with total gains for the week through the overnight high 74.78 (new-crop Dec) of roughly 9.00 (cents per pound). Outside markets were mixed with crude oil giving back some of Tuesday's impressive rally while gold moved higher. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 120.74 points higher at 18,347.67, the NASDAQ Composite gained 34.18 points to 5,022.82 and the S&P 500 rallied 14.98 points to close at 2,152.14 Tuesday. DJIA futures were 12 points higher overnight. Asian markets were mostly higher with Japan's Nikkei up 135.78 points (0.8%) while China's Shanghai Composite gained 11.31 points (0.4%). European markets were also mostly higher with London's FTSE 100 up 12.96 points (0.2%), Germany's DAX was 5.81 points higher, and France's CAC 40 gained 14.31 points (0.3%). The U.S. dollar index was off 0.071 to 96.370. Crude oil fell $0.56 to $46.24 while Brent crude was down $0.76 to $47.71. August gold was $2.80 higher at $1,338.10. China's Dalian soybean futures and Malaysian palm oil futures were higher overnight.