DTN Early Word Grains 09/28 05:55

DTN Early Word Grains 09/28 05:55 So Much for Tuesday's Rally December corn was 1 cent lower, November soybeans were 5 cents lower, and December Chicago wheat was fractionally lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 1 cent lower, November soybeans were 5 cents lower, and December Chicago wheat was fractionally lower. CME Globex Recap: Grain markets were lower early Wednesday, with corn and soybeans erasing Tuesday's gains when added to weakening basis. Outside markets were mostly higher with crude oil posting a small gain. Gold continued to trade lower while the U.S. dollar index moved higher. DJIA futures were down slightly. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 133.47 points (0.7%) higher at 18,228.30, the NASDAQ Composite gained 48.22 points (0.9%) to 5,305.71, and the S&P 500 rallied 13.83 points (0.6%) to close at 2,159.93 Tuesday. DJIA futures were 8 points lower overnight. Asian markets were mixed with Japan's Nikkei down 218.53 points (1.3%) and China's Shanghai Composite lost 10.31 points (0.3%). European markets were higher with London's FTSE 100 up 43.37 points (0.6%), Germany's DAX rallied 89.55 points (0.9%), and France's CAC 40 gained 33.52 points (0.8%). The U.S. dollar index was 0.111 higher at 95.546. Crude oil rallied $0.21 to $44.88 while Brent crude added $0.28 to $46.25. December gold was $1.70 lower at $1,328.70. China's Dalian soybean and Malaysian palm oil futures were both lower again overnight.