DTN Early Word Grains 08/18 05:56

DTN Early Word Grains 08/18 05:56 Beans Cause Backfiring in Grains December corn was fractionally lower, November soybeans were 12 cents lower, and December Chicago wheat was 2 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was fractionally lower, November soybeans were 12 cents lower, and December Chicago wheat was 2 cents lower. CME Globex Recap: Chicago soybeans, along with most of the global oilseed market, fell back overnight despite a sell-off in the U.S. dollar index. The latter was due to July's FOMC notes released Wednesday that again shows the group to be "divided" in regards to interest rates. The commodity sector was mixed with gold and crude oil higher while corn and wheat were showing small losses. DJIA futures were quiet overnight. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 21.92 points higher at 18,573.94, the NASDAQ Composite gained 1.55 points to 5,228.66, and the S&P 500 rallied 4.07 points to close at 2,182.22 Wednesday. DJIA futures added 4 points overnight. Asian markets were mixed with Japan's Nikkei down 259.63 points (1.5%) while China's Shanghai Composite dipped 5.44 points (0.2%). European markets were higher with London's FTSE 100 up 6.35 points, Germany's DAX gained 45.73 points (0.4%), and France's CAC 40 added 5.34 points (0.1%). The U.S. dollar index was 0.267 lower to 94.451. Crude oil gained $0.24 to $47.03 while Brent crude was $0.05 lower at $49.80. December gold was $5.20 higher at $1,354.00. China's Dalian soybean futures were higher while Malaysian palm oil futures were lower overnight.