DTN Early Word Grains 07/28 05:56

DTN Early Word Grains 07/28 05:56 The Fed Says "See You in September, Maybe" December corn was 1 cent higher, November soybeans were 2 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 1 cent higher, November soybeans were 2 cents higher, and September Chicago wheat was 4 cents higher. CME Globex Recap: The Federal Reserve left interest rates unchanged, pushing back a possible increase until at least September, or possibly December. In response, the U.S. dollar index is posting a solid sell-off, providing support to grains and metals commodities sectors. Energies, on the other hand, remain under pressure from continued oversupply of crude oil. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 1.58 points lower at 18,472.17, the NASDAQ Composite gained 29.76 points to 5,139.81, and the S&P 500 fell 2.59 point to close at 2,166.58 Wednesday. DJIA futures were 16 points higher overnight. Asian markets were mixed with Japan's Nikkei down 187.98 points (1.1%) while China's Shanghai Composite gained 2.32 points. European markets were mostly lower with London's FTSE 100 down 19.95 points (0.3%), Germany's DAX was 4.57 points lower, and France's CAC 40 fell 8.64 points (0.2%). The U.S. dollar index lost 0.522 to 96.531. Crude oil dipped $0.16 to $41.76 while Brent crude was $0.49 lower at $42.98. December gold was $12.70 higher at $1,347.20. China's Dalian soybean futures were mixed while Malaysian palm oil futures were lower overnight.