DTN Early Word Grains 05/11 05:57

DTN Early Word Grains 05/11 05:57 Grains Extend Rallies Overnight July corn was 1 cent higher, July beans were 4 cents higher, and July Chicago wheat was 1 cent higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 1 cent higher, July beans were 4 cents higher, and July Chicago wheat was 1 cent higher. CME Globex Recap: Grains were higher early Wednesday morning, once again led by the soybean market. Noncommercial support tied to the lower U.S. dollar index helped push grains higher, though the energy complex struggled. Metals were also higher overnight as gold continues to show long-term strength. DJIA futures were lower, setting the stage for the big board to give back some of Tuesday's strong rally. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 222.44 points higher at 17,928.35, the NASDAQ Composite was up 59.67 points at 4,809.88, and the S&P 500 gained 25.70 points to close at 2,084.39 Tuesday. DJIA futures were 54 points lower overnight. Asian markets were mixed with Japan's Nikkei up 13.82 points (0.8%) while China's Shanghai Composite gained 4.45 points (0.2%). European markets were lower with London's FTSE 100 off 12.72 points (0.2%). The U.S. dollar index fell 0.194 to 94.096. Crude oil lost $0.35 to $44.31 while Brent crude dropped $0.11 to $45.41. June gold was $9.70 higher at $1,274.50. China's Dalian soybean futures Malaysian palm oil futures were both higher overnight.