DTN Early Word Grains 08/16 05:57

DTN Early Word Grains 08/16 05:57 Grains Not Impressed by Weak Dollar December corn was fractionally higher, November soybeans were 2 cents higher, and December Chicago wheat was 2 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was fractionally higher, November soybeans were 2 cents higher, and December Chicago wheat was 2 cents lower. CME Globex Recap: The U.S. dollar index was posting a sharp loss early Tuesday, ahead of the release of a number of July data points including consumer price index. Most commodities were able to rally overnight excluding wheat, cotton, and soybean oil. Buying in soybeans had cooled dramatically from the previous overnight session while corn was quiet again. Crude oil was testing resistance at $46.12 while gold was near its session high. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 59.58 points higher at 18,636.05, the NASDAQ Composite gained 29.13 points to 5,262.02, and the S&P 500 rallied 6.10 points to close at 2,190.15 Monday. DJIA futures lost 11 points overnight. Asian markets were mostly lower with Japan's Nikkei down 273.05 points (1.6%) while China's Shanghai Composite lost 15.16 points (0.5%). European markets were also mostly lower with London's FTSE 100 down 5.90 points, Germany's DAX lost 24.54 points (0.2%), and France's CAC 40 slipped 2.66 points. The U.S. dollar index was 0.802 lower to 94.827. Crude oil gained $0.24 to $45.98 while Brent crude was $0.24 higher at $48.59. December gold was $9.90 higher at $1,357.40. China's Dalian soybean futures were higher and Malaysian palm oil futures were lower overnight.