DTN Early Word Grains 08/11 05:54 Back to the Drawing Board December corn was fractionally higher, November soybeans were fractionally higher, and September Chicago (SRW) wheat was 1 cent lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was fractionally higher, November soybeans were fractionally higher, and September Chicago (SRW) wheat was 1 cent lower. CME Globex Recap: After USDA melted down grain, cotton, and oilseed markets with new crop production numbers, contracts stabilized overnight through early Friday morning. Given the latest crop estimates, debate over weekend weather is now meaningless as rain is no longer needed to generate record production, in theory. Outside markets remain nervous over what could happened politically and militarily this next few days, with both the U.S. dollar and gold stronger while DJIA futures continue to come under pressure. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 204.69 points (0.9%) lower at 21,844.01, the NASDAQ Composite lost 135.46 points (2.1%) to 6,216.87, and the S&P 500 fell 35.81 points (1.5%) to 2,438.21 Thursday. DJIA futures were 17 points lower early Friday morning. Asian markets closed lower Hong Kong's Hang Seng losing 560.49 points (2.0%) and China's Shanghai Composite down 53.21 points (1.6%). European markets were trading lower with London's FTSE 100 off 81.02 points (1.1%), Germany's DAX down 42.40 points (0.3%), and France's CAC 40 losing 53.60 points (1.0%). The euro was 0.0018 lower at 1.1756 while the U.S. dollar index gained 0.07 to 93.49. September 30-year T-Bonds were 8/32 higher at 155'19 while December gold added $3.30 to $1,293.40. Crude oil was $0.27 lower at $48.32 while Brent crude lost $0.21 to $51.69. China's Dalian soybean futures were lower while Malaysian palm oil futures were higher overnight.