DTN Early Word Grains 11/07 06:06

DTN Early Word Grains 11/07 06:06 No New Evidence December corn was fractionally lower, January soybeans were 9 cents higher, and December Chicago wheat was fractionally higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was fractionally lower, January soybeans were 9 cents higher, and December Chicago wheat was fractionally higher. CME Globex Recap: Three little words from FBI director James Comey Sunday were enough to change the direction of global markets overnight. DJIA futures rallied as much as 250 points, indicating an end to the big board's 7-day losing streak. Also, the U.S. dollar index and the Mexican peso were running higher together while gold and the Japanese yen fell. In other news, a mention in the news that OPEC would once again pursue production limits offset recent pressure from the historic build in domestic oil stocks. As for grains, soybeans led the rally on renewed hopes that no post-election trade war with China will develop. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 42.39 points (0.2%) lower at 17,888.28, the NASDAQ Composite lost 12.04 points (0.2%) to 5,046.37, and the S&P 500 dipped 3.48 points (0.2%) to close at 2,085.18 Friday. DJIA futures were 234 points higher overnight. Asian markets were higher with Japan's Nikkei up 271.85 points (1.6%), Hong Kong's Hang Seng Index rallied 158.78 points (0.7%), and China's Shanghai Composite gained 8.02 points (0.3%). European markets were also higher Monday with London's FTSE 100 up 91.69 points (1.4%), Germany's DAX gaining 164.13 points (1.6%), and France's CAC 40 adding 75.78 points (1.7%). The U.S. dollar index was 0.548 higher at 97.613. Crude oil climbed $0.77 to $44.845 while Brent crude gained $0.71 to $46.29. December gold was $16.40 lower at $1,288.10. China's Dalian soybean and Malaysian palm oil futures were both higher overnight.