DTN Early Word Grains 05/06 06:06

DTN Early Word Grains 05/06 06:06 No Surprise, Grains Mostly Higher Early Friday July corn was 1 cent higher, July beans were 1 cent higher, and July Kansas City wheat was 1 cent lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 1 cent higher, July beans were 1 cent higher, and July Kansas City wheat was 1 cent lower. CME Globex Recap: Following Thursday's meltdown in the grain markets, it wasn't too surprising to see most contracts find a little buying interest overnight. Only new-crop soybeans and Kansas City (HRW) wheat were still in the red early Friday morning. Additionally, the U.S. dollar index was lower after posting three up-days against its prevailing downtrend. This helped gold post a double-digit rally while crude oil stayed on the defensive. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 9.45 points higher at 17,660.71, the NASDAQ Composite was down 8.55 points at 4,717.09, and the S&P 500 lost 0.49 points to close at 2,050.63 Thursday. DJIA futures were 37 points lower overnight. Asian markets were mostly lower with Japan's Nikkei down 40.66 points (0.3%) and China's Shanghai composite off 84.59 points (2.8%). European markets were lower with London's FTSE 100 losing 44.57 points (0.7%). The U.S. dollar index fell 0.170 to 93.610. Crude oil was off $0.25 at $44.07 while Brent crude dipped $0.28 to $44.73. June gold was $10.80 higher at $1,283.10. China's Dalian soybean futures were lower and Malaysian palm oil futures were higher again overnight.