DTN Early Word Grains 05/19 05:57

DTN Early Word Grains 05/19 05:57 Hawkish Minutes Turn to Bearish Overnight Hours for Grains July corn was 2 cents lower, July beans were 6 cents lower, and July Chicago wheat was 5 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 2 cents lower, July beans were 6 cents lower, and July Chicago wheat was 5 cents lower. CME Globex Recap: Wednesday afternoon saw the release of the most recent FOMC minutes, indicating a growing number of members are looking for another interest rate move when the committee comes together for its 2-day meeting in June. This sparked a strong rally in the U.S. dollar index that carried into the overnight session, offsetting any possible bullishness from a strong close in grains. Outside commodities were also lower with both crude oil and gold showing solid losses. DJIA futures were under pressure as well. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 3.36 points lower at 17,526.62, the NASDAQ Composite was up 23.39 points at 4,739.12, and the S&P 500 gained 0.42 points to close at 2,047.63 Wednesday. DJIA futures were 49 points lower overnight. Asian markets were mostly lower though Japan's Nikkei was up 1.97 points while China's Shanghai Composite lost 0.61 points. European markets were lower with London's FTSE 100 down 85.43 points (1.4%). The U.S. dollar index rallied 0.109 to 95.189. Crude oil lost $0.92 to $47.27 while Brent crude dropped $1.12 to $47.81. June gold was $19.00 lower at $1,255.40. China's Dalian soybean futures were mixed while Malaysian palm oil futures were lower again overnight.