DTN Early Word Grains 08/05 05:56

DTN Early Word Grains 08/05 05:56 Grains Firmer at Midweek December corn is up 1 1/2 cents per bushel, November soybeans are up 1 1/2 cents, and September KC wheat is up 2 3/4 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: December corn is up 1 1/2 cents per bushel, November soybeans are up 1 1/2 cents, and September KC wheat is up 2 3/4 cents. CME Globex Recap: Global equity trade is mostly higher overnight but the focus for most financial media outlets is gold pushing through $2,000 an ounce for the first time ever. U.S. dollar weakness, historically weak interest rates and uncertainty about the continued strength of the stock market has made gold a popular choice in 2020. Energy markets are higher overnight with crude oil up over 2.0% and closing in on its 200-day moving average. After a two-day rally, the U.S. Dollar Index is nearing the July lows. Grain markets are higher overnight as most contracts simply try to steady themselves after fresh contract lows Tuesday. It is undeniable bears are in control right now, armed with rising crop estimates, benign weather and enough demand concerns to keep the pressure on. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 164.07 at 26,828.47 and the S&P 500 up 11.90 at 3,294.61 while the 10-Year Treasury yield ended at 0.515%. Early Wednesday, the September DJIA futures are up 164 points. Asian markets are mixed with Japan's Nikkei 225 down 58.81 (-0.26%) and China's Shanghai Composite up 5.88 points (0.17%). European markets are higher with London's FTSE 100 up 59.43 points (0.98%), Germany's DAX up 120.78 points (0.86%) and France's CAC 40 up 39.34 points (0.8%). The September Euro is up 0.006 at 1.190 and the September U.S. dollar index is down 0.403 at 92.975. The September 30-Year T-Bond is down 12/32nds, while December gold is up $29.70 at $2,050.70 and September crude oil is up $0.87 at $42.57. Soybeans on China's Dalian Exchange were down 2.01% while soybean meal was down 1.06%.