DTN Early Word Grains 05/01 05:57

DTN Early Word Grains 05/01 05:57 Midwest Mayday, May Day Morning July corn was 5 cents higher, July soybeans were 8 cents higher, and July Kansas City (HRW) wheat was 15 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 5 cents higher, July soybeans were 8 cents higher, and July Kansas City (HRW) wheat was 15 cents higher. CME Globex Recap: The Governor of Kansas declared a state of emergency for parts of the Sunflower State belted by a blizzard (western part) and washed away by flood (eastern part). Speaking of flooding, states from Indiana to Texas are battling too much water as a massive spring storm made its way from the Plains through the Midwest. In response, July Kansas City wheat roared to a 17-cent gain overnight, while the rest of the grain complex also traded higher. Other commodities were lower with light pressure coming from a modest rally in the U.S. dollar index. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 40.82 points (0.2%) lower at 20,940.51. The NASDAQ Composite lost 1.33 points to 6,047.61 and the S&P 500 slipped 4.57 points (0.2%) to 2,388.77 Friday. DJIA futures were 26 points higher early Monday morning. Asian markets closed mixed with Japan's Nikkei up 113.78 points (0.6%). European markets were trading mixed Monday with London's FTSE 100 off 33.23 points (0.5%), Germany's DAX losing 5.78 points, and France's CAC 40 off 4.37 points. The euro was 0.0004 higher at 1.0900 while the U.S. dollar index gained 0.02 at 99.06. June 30-year T-Bonds were 8/32 lower at 152'23 while June gold fell $4.30 to $1,264.00. Crude oil was $0.15 lower at $49.18 while Brent crude lost $0.19 to $51.86. China's Dalian soybean and Malaysian palm oil futures were both closed overnight.