DTN Early Word Grains 04/13 05:54

DTN Early Word Grains 04/13 05:54 Soybeans Jump on China Export News May corn was 4 cents higher, May soybeans were 12 cents higher, and July Kansas City wheat was 1 cent higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: May corn was 4 cents higher, May soybeans were 12 cents higher, and July Kansas City wheat was 1 cent higher. CME Globex Recap: China's exports reportedly grew in March for the first time in nine months, signaling investment traders that its economy may not be as weak as feared. This sparked another wave of buying in the soybean market, pushing contracts to double-digit gains overnight. Corn and wheat were also higher, with action in corn spreads continuing to show strong commercial demand. Gold was posting a sharp sell-off, due in large part to a strong rally in the U.S. dollar index. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 164.84 points higher at 17,721.25, the NASDAQ Composite was up 38.69 points at 4,872.09, and the S&P 500 rallied 19.72 points to close at 2,061.71 Tuesday. DJIA futures were 85 points higher overnight. Asian markets were higher with the Nikkei up 452.43 points (2.8%) while China's Shanghai Composite rallied 42.99 points (1.4%). European markets were also higher with London's FTSE 100 up 91.09 points (1.5%). The U.S. dollar index gained 0.620 to 94.579. Crude oil fell $0.58 to $41.59 while Brent crude fell $0.46 to $44.23. June gold was $16.60 lower at $1,244.40. China's Dalian soybean futures and Malaysian palm oil futures were both higher.