DTN Early Word Grains 04/12 05:55

DTN Early Word Grains 04/12 05:55 Grains Higher Early Report Day May corn was 2 cents higher, May soybeans were 7 cents higher, and July Kansas City wheat was 2 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: May corn was 2 cents higher, May soybeans were 7 cents higher, and July Kansas City wheat was 2 cents higher. CME Globex Recap: Grains rallied overnight into Tuesday morning, supported in part by the continued weakness of the U.S. dollar index. Trade volume was moderate despite the next round of monthly USDA supply and demand set for release later in the morning. Outside markets were also higher with both metals and energies showing overnight gains. DJIA futures were also higher, indicating the Big Board might erase Monday's losses early Tuesday. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 20.55 points lower at 17,556.41, the NASDAQ Composite was down 17.29 points at 4,833.40, and the S&P 500 fell 5.61 points to close at 2,041.99 Monday. DJIA futures were 48 points higher overnight. Asian markets were mostly higher with the Nikkei up 177.66 points (1.1%) while China's Shanghai Composite fell 10.31 points (0.3%). European markets were mixed with London's FTSE 100 up 2.37 points. The U.S. dollar index dipped 0.101 to 93.849. Crude oil rallied $0.36 to $40.72 while Brent crude gained $0.54 to $43.37. June gold was $2.50 higher at $1,260.50. China's Dalian soybean futures were higher while Malaysian palm oil futures were lower again.