DTN Early Word Grains 05/19 05:56

DTN Early Word Grains 05/19 05:56 Back from the Brink July corn was 2 cents higher, July soybeans were 7 cents higher, and July Kansas City (HRW) wheat was 4 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 2 cents higher, July soybeans were 7 cents higher, and July Kansas City (HRW) wheat was 4 cents higher. CME Globex Recap: Grain markets, soybeans in particular, took a step back from the edge to trade higher overnight through early Friday morning. What looks to be renewed commercial buying supported soybeans, with spillover support seen in corn and wheat. Outside commodities were mostly higher as the U.S. dollar index sold off and the Brazilian real strengthened. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 56.09 points (0.3%) higher at 20,663.02, the NASDAQ Composite rallied 43.89 points (0.7%) to 6,055.13, and the S&P 500 gained 8.69 points (0.4%) to 2,365.72 Thursday. DJIA futures were 27 points higher early Friday morning. Asian markets closed mostly higher with Japan's Nikkei up 36.90 points (0.2%), Hong Kong's Hang Seng gaining 38.36 points (0.2%), and China's Shanghai Composite adding 0.49 point. European markets were trading higher with London's FTSE 100 up 38.15 points (0.5%), Germany's DAX rallying 40.59 points (0.3%), and France's CAC 40 gaining 30.96 points (0.6%). The euro was 0.0057 higher at 1.1160 while the U.S. dollar index lost 0.41 to 97.48. June 30-year T-Bonds were 4/32 lower at 153'22 while June gold slipped $1.00 to $1,251.80. Crude oil was $0.42 higher at $49.77 while Brent crude gained $0.43 to $52.94. China's Dalian soybean futures were lower and Malaysian palm oil futures were higher overnight.