DTN Early Word Grains 05/12 05:55

DTN Early Word Grains 05/12 05:55 Grains Rebound Overnight into Thursday Morning July corn was 3 cents higher, July beans were 9 cents higher, and July Chicago wheat was 4 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 3 cents higher, July beans were 9 cents higher, and July Chicago wheat was 4 cents higher. CME Globex Recap: After falling back from Tuesday's strong rallies Wednesday, early Thursday morning finds grain markets rebounding. Soybeans are once again leading the way, posting a solid rally with contracts near overnight session highs on what looks to be renewed commercial buying interest. Corn and wheat contracts were both up about 3 cents. Outside markets were mostly high with crude oil showing modest gains while gold saw Wednesday's move trimmed a bit. The U.S. dollar index and DJIA futures were both higher. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 217.23 points lower at 17,711.12, the NASDAQ Composite was down 49.19 points at 4,760.69, and the S&P 500 fell 19.93 points to close at 2,064.46 Wednesday. DJIA futures were 70 points higher overnight. Asian markets were mixed with Japan's Nikkei up 67.33 points (0.4%) while China's Shanghai Composite dipped 1.18 points. European markets were mostly higher with London's FTSE 100 up 11.15 points (0.2%). The U.S. dollar index gained 0.172 to 93.995. Crude oil rallied $0.36 to $46.59 while Brent crude added $0.34 to $47.94. June gold was $5.50 lower at $1,270.00. China's Dalian soybean futures were higher and Malaysian palm oil futures lower overnight.