DTN Early Word Grains 05/03 05:58

DTN Early Word Grains 05/03 05:58 Turnaround Tuesday? Fuggedaboudit! July corn was fractionally higher, July beans were 9 cents higher, and July Kansas City wheat was 3 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was fractionally higher, July beans were 9 cents higher, and July Kansas City wheat was 3 cents higher. CME Globex Recap: Soybeans powered higher overnight with both old-crop and new-crop posting double-digit gains during the session. As was the case Monday, spillover buying supported corn and wheat. The U.S. dollar index continued its strong downtrend, dropping another 0.450 through early Tuesday morning. Outside commodities weren't able to take advantage energies and metals mostly lower. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 117.52 points higher at 17,891.16, the NASDAQ Composite was up 42.23 points at 4,817.59, and the S&P 500 gained 16.12 points to close at 2,081.42 Monday. DJIA futures were 108 points lower overnight. Asian markets were mixed while European markets were lower. London's FTSE 100 was down 56.59 points (0.9%). The U.S. dollar index was down 0.440 at 92.186. Crude oil dropped $0.38 to $44.40 while Brent crude fell $0.26 to $45.57. June gold was $2.20 higher at $1,298.00. China's Dalian soybean futures were higher and Malaysian palm oil futures were lower.