DTN Early Word Grains 12/30 05:53

DTN Early Word Grains 12/30 05:53 Winter Floods March corn was 1/2 cent higher, March soybeans were 3 cents higher, and March Chicago wheat was 2 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: March corn was 1/2 cent higher, March soybeans were 3 cents higher, and March Chicago wheat was 2 cents higher. CME Globex Recap: Grains rallied on decent trade volume overnight, supported by noncommercial buying tied in part to flooding along the Mississippi River. Gains may have been capped by the continued strength of the U.S. dollar index, a factor that helped push metals and energies lower through early Wednesday morning. DJIA futures were also down, indicating the Dow could give back some of Tuesday's solid triple-digit gains. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 192.71 points higher Tuesday at 17,720.98. The NASDAQ Composite was up 66.95 points at 5,107.94. DJIA futures were 32 points lower overnight. Asian markets were mixed with the Nikkei up 51.48 points at 19,033.71 while China's Shanghai composite rallied 9.14 points. European markets were also mixed. The U.S. dollar index was up 0.161 at 98.262. Crude oil was $0.94 lower at $36.93 while Brent crude was $0.69 lower at $37.10. February gold was $1.40 lower at $1,066.60. Dalian soybean futures and Malaysian palm oil futures were both higher.