DTN Early Word Grains 03/13 05:59

DTN Early Word Grains 03/13 05:59 Springing Forward, Only to Fall Back May corn was 1 cent lower, May soybeans were unchanged, and July Kansas City (HRW) wheat was 5 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: May corn was 1 cent lower, May soybeans were unchanged, and July Kansas City (HRW) wheat was 5 cents lower. CME Globex Recap: After an initial attempt to follow soybeans and soybean meal higher, corn wheat fell back below unchanged overnight into Monday morning. Outside markets were mixed with energies mostly lower and metals higher. The U.S. dollar index was under pressure as traders wait for the start of the Federal Reserve's two-day meeting Tuesday, a meeting that is expected to result in an interest rate increase. DJIA futures were also posting a small loss. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 44.79 points (0.2%) higher at 20,902.98. The NASDAQ Composite added 22.92 points (0.4%) to 5,861.73 and the S&P 500 gained 7.73 points (0.3%) to 2,372.60 Friday. DJIA futures were 2 points lower early Monday morning. Asian markets were higher with Japan's Nikkei up 29.14 points (0.2%), Hong Kong's Hang Seng gaining 261.00 points (1.1%), and China's Shanghai Composite rallied 24.26 points (0.8%). European markets were also higher Monday with London's FTSE 100 up 8.39 points (0.1%), Germany's DAX gaining 11.25 points (0.1%), and France's CAC 40 up 1.66 points. The euro was 0.0006 lower at 1.0667 while the U.S. dollar index lost 0.05 to 101.33. June 30-year T-Bonds were 10/32 higher at 147'05 while April gold gained $6.00 to $1,207.40. Crude oil fell $0.39 to $48.10 while Brent crude dropped $0.33 to $51.04. Dalian soybean and Malaysian palm oil futures were both lower overnight.