DTN Early Word Grains 08/27 05:57

DTN Early Word Grains 08/27 05:57 Grains Rally Ahead of Export Sales December corn is up 2 cents per bushel, November soybeans are up 5 1/2 cents, and December KC wheat is up 3 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: December corn is up 2 cents per bushel, November soybeans are up 5 1/2 cents, and December KC wheat is up 3 cents. CME Globex Recap: Equity markets and futures are weaker overnight as investors await the beginning of the Fed's virtual Jackson Hole policy conference at which Fed Chair Powell is expected to present the findings of the Fed's long-term policy framework review. Energy markets are weaker overnight despite Hurricane Laura potentially becoming a category 5 hurricane by the time it slams into the northwest coast of the Gulf of Mexico which is home to a large share of U.S. refining capacity. The U.S. dollar is weaker as are precious metals. Grains are firmer across the board with gains led by wheat contracts as bulls wait to see if China shows up in the weekly export sales report. Momentum has shifted in a big way the last week to ten days with plenty of time remaining before harvest begins and seasonal pressure becomes a factor. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average up 83.48 at 28,331.92 and the S&P 500 up 35.11 at 3,443.62 while the 10-Year Treasury yield ended at 0.687%. Early Thursday, the September DJIA futures are down 100 points. Asian markets are mixed with Japan's Nikkei 225 down 82 (-0.35%) and China's Shanghai Composite up 20.37 points (0.61%). European markets are lower with London's FTSE 100 down 30.53 points (-0.5%), Germany's DAX down 76.48 points (-0.58%) and France's CAC 40 down 41.73 points (-0.83%). The September Euro is up 0.001 at 1.180 and the September U.S. dollar index is down 0.091 at 92.905. The September 30-Year T-Bond is up 8/32nds, while December gold is down $4.70 at $1,947.80 and October crude oil is down $0.11 at $43.28. Soybeans on China's Dalian Exchange were up 0.64% while soybean meal was down 0.38%.