DTN Early Word Grains 08/24 05:57

DTN Early Word Grains 08/24 05:57 Grains Rally on Weather, Exports December corn is up 1 3/4 cents per bushel, November soybeans are up 3 3/4 cents, and December KC wheat is steady. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: December corn is up 1 3/4 cents per bushel, November soybeans are up 3 3/4 cents, and December KC wheat is steady. CME Globex Recap: Sharply higher equity markets overnight as investors gain optimism toward possible coronavirus treatments. The Jackson Hole economic symposium is scheduled this week and could see additional measures discussed by the Federal Reserve in supporting the U.S. economy. Energy markets are firmer overnight as spot crude oil futures maintain strength above major moving averages. The U.S. Dollar Index is softer while precious metals are firmer overnight. Grain markets are higher overnight, led by corn and soybeans as trades dial in lower yield ideas than what the USDA provided on the August WASDE. In addition, export demand remains strong for all major ag commodities as importers take advantage of the relative U.S. dollar weakness. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average up 190.60 at 27,930.33 and the S&P 500 up 11.65 at 3,385.51 while the 10-Year Treasury yield ended at 0.64%. Early Monday, the September DJIA futures are up 224 points. Asian markets are higher with Japan's Nikkei 225 up 65.21 (0.28%) and China's Shanghai Composite up 4.96 points (0.15%). European markets are higher with London's FTSE 100 up 108.74 points (1.81%), Germany's DAX up 284.54 points (2.23%) and France's CAC 40 up 102.58 points (2.1%). The September Euro is up 0.004 at 1.180 and the September U.S. dollar index is down 0.240 at 93.000. The September 30-Year T-Bond is down 4/32nds, while December gold is up $8.80 at $1,955.80 and October crude oil is up $0.32 at $42.66. Soybeans on China's Dalian Exchange were down 0.8% while soybean meal was up 0.07%.