DTN Early Word Grains 05/15 05:52

DTN Early Word Grains 05/15 05:52 Corn Takes the Baton July corn was 2 cents higher, July soybeans were 1 cent higher, and July Kansas City (HRW) wheat was 2 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 2 cents higher, July soybeans were 1 cent higher, and July Kansas City (HRW) wheat was 2 cents higher. CME Globex Recap: Overnight Sunday through Monday was all about the soybean market. As we start the second leg of this week's race, corn has the bullish baton. Overnight trade saw corn trade a couple cents higher while soybeans were quiet and bean meal was actually lower. Wheat was warming up, gaining back a little bit of the ground it lost the previous day. The energy complex was higher, again, while metals were mostly lower. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 68.24 points (0.3%) higher at 24,899.41, the NASDAQ Composite gained 8.43 points higher (0.1%) to 7,411.32, and the S&P 500 added 2.41 points (0.1%) to 2,730.13 Monday. DJIA futures were 44 points lower early Tuesday morning. Asian markets closed mostly lower with Japan's Nikkei 225 down 47.84 points (0.2%), Hong Kong's Hang Seng losing 389.05 points (1.2%), and China's Shanghai Composite adding 18.09 points (0.6%). European markets were trading mixed with London's FTSE 100 up 17.93 points (0.2%), Germany's DAX down 16.47 points (0.1%), and France's CAC 40 up 3.79 points. The euro was 0.0004 lower at 1.1925 as the U.S. dollar index gained 0.07 to 92.74. June 30-year T-Bonds were 11/32 lower at 142'13 while June gold dropped $8.90 to $1,309.30. Crude oil was $0.40 higher at $71.36 while Brent crude gained $0.68 to $78.91. China's Dalian soybean futures were lower and Malaysian palm oil futures were higher again overnight.