DTN Early Word Grains 09/19 05:57

DTN Early Word Grains 09/19 05:57 Harvest Moon Brings Out the Beast in Beans December corn was 1 cent higher, November soybeans were 9 cents higher, and December Chicago wheat was 2 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 1 cent higher, November soybeans were 9 cents higher, and December Chicago wheat was 2 cents higher. CME Globex Recap: November soybeans traded as much as 15 cents higher, possibly supported by a strong rally in China's Dalian soybean market. The Dalian was closed the latter part of last week, returning to business with a flourish overnight. Malaysian palm oil also showed a strong gain. As for the other grains, they did what corn and wheat do best meaning not much. Outside commodities were mostly higher, led by cotton, with both crude oil and gold also rallying. Much of this was due to a weaker U.S. dollar index as Fed Week gets under way. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 88.68 points (0.5%) lower at 18,123.80, the NASDAQ Composite lost 5.12 points (0.1%) to 5,244.57, and the S&P 500 fell 8.10 points (0.4%) to close at 2,139.16 Friday. DJIA futures were 76 points higher overnight. Asian markets were higher with China's Shanghai Composite up 23.20 points (0.7%). European markets were also higher with London's FTSE 100 up 92.45 points (1.4%), Germany's DAX gained 80.65 points (0.8%), and France's CAC 40 rallied 61.64 points (1.4%). The U.S. dollar index was 0.269 lower at 95.839. Crude oil rallied $0.65 to $43.68 while Brent crude gained $0.59 to $46.36. December gold was $7.30 higher at $1,317.50. China's Dalian soybean and Malaysian palm oil futures were both sharply higher overnight.