DTN Early Word Grains 05/04 05:59

DTN Early Word Grains 05/04 05:59 Thinking Things Through Thursday July corn was 2 cents lower, July soybeans were 3 cents lower, and July Kansas City (HRW) wheat was 5 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 2 cents lower, July soybeans were 3 cents lower, and July Kansas City (HRW) wheat was 5 cents lower. CME Globex Recap: Thursday morning finds markets across the board reacting, in a way, to Wednesday's results. For wheat that means renewed pressure following Day 2 of the Kansas Wheat Tour, while DJIA futures are rallying after the Federal Reserve did what was expected and left interest rates unchanged. Most everything else, including the bulk of commodities and the U.S. dollar, were showing losses. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 8.01 points higher at 20,957.90. The NASDAQ Composite lost 22.82 points (0.4%) to 6,072.55 and the S&P 500 dipped 3.04 points (0.1%) to 2,388.13 Wednesday. DJIA futures were 57 points higher early Thursday morning. Asian markets closed mostly lower with Japan's Nikkei still closed, Hong Kong's Hang Seng off 12.25 points, and China's Shanghai Composite down 7.98 points (0.3%). European markets were trading higher Thursday with London's FTSE 100 up 25.35 points (0.4%), Germany's DAX gaining 95.33 points (0.8%), and France's CAC 40 adding 44.53 points (0.8%). The euro was 0.0052 higher at 1.0938 while the U.S. dollar index fell 0.30 to 99.08. June 30-year T-Bonds were 21/32 lower at 152'05 while June gold lost $13.00 to $1,235.50. Crude oil was $0.43 lower at $47.39 while Brent crude dropped $0.46 to $50.33. China's Dalian soybean futures were lower while Malaysian palm oil futures were higher overnight.