DTN Early Word Grains 02/26 06:04

DTN Early Word Grains 02/26 06:04 Just a Quiet Friday Morning May corn was fractionally higher, May soybeans were 2 cents higher, and May Chicago wheat was 1 cent higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: May corn was fractionally higher, May soybeans were 2 cents higher, and May Chicago wheat was 1 cent higher. CME Globex Recap: Grains were quiet overnight with contracts trading higher early Friday morning. Attention remains on outside markets where both Asian and European equities were stronger, providing support for another round of triple-digit gains by DJIA futures. Of course much of this was attributed to the ongoing rally in crude oil that saw its spot-month contract rally $0.60 overnight. Gold, on the other hand, was showing a small loss as the U.S. dollar index continued to climb. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 212.30 points higher at 16,697.29, the NASDAQ Composite was up 39.60 points at 4,582.21, and the S&P 500 rallied 21.90 points to close at 1,951.70 Thursday. DJIA futures were 112 points higher overnight. Asian markets were mostly higher with the Nikkei up 48.07 points (0.3%) while China's Shanghai Composite rallied 25.96 points (1.0%). European markets were higher with London's FTSE 100 up 72.52 points (1.2%). The U.S. dollar index was 0.108 higher at 97.395. Crude oil was up $0.66 at $33.73 while Brent crude rallied $0.73 to $36.02. April gold was $3.90 lower at $1,234.90. China's Dalian soybean and Malaysian palm oil futures were both higher.