DTN Early Word Grains 08/01 06:01

DTN Early Word Grains 08/01 06:01 Dog Days of Summer Begin December corn was 3 cents lower, November soybeans were 19 cents lower, and September Chicago wheat was 1 cent higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 3 cents lower, November soybeans were 19 cents lower, and September Chicago wheat was 1 cent higher. CME Globex Recap: Friday's month-end rally in soybeans didn't hold as Sunday night into Monday morning trade erased a large portion of the gains. Corn seemed more than happy to follow beans lower while wheat continues to march to the beat of its own drummer, trading higher through early Monday. Outside markets were also mostly lower with both gold and crude oil lower. The U.S. dollar index posted a modest recovery from Friday's collapse. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 24.11 points lower at 18,432.24 the NASDAQ Composite gained 7.15 points to 5,162.13, and the S&P 500 rallied 3.54 points to close at 2,173.60 Friday. DJIA futures were 24 points higher overnight. Asian markets were mostly higher with Japan's Nikkei up 66.50 points (0.4%) and China's Shanghai Composite fell 25.95 points (0.9%). European markets were mixed with London's FTSE 100 down 0.33 points, Germany's DAX was 31.10 points (0.3%) higher, and France's CAC 40 dipped 19.60 points (0.4%). The U.S. dollar index rallied 0.175 to 95.705. Crude oil lost $0.46 to $41.14 while Brent crude was $0.54 lower at $42.99. December gold was $2.70 lower at $1,354.80. China's Dalian soybean and Malaysian palm oil futures were higher overnight.