DTN Early Word Grains 04/17 05:55

DTN Early Word Grains 04/17 05:55 Cautious Optimism in Grains Early Friday May corn is up 3 cents, May soybeans are up 3 1/4 cents and July KC wheat is unchanged. By Todd Hultman DTN Lead Analyst 6:00 a.m. CME Globex: May corn is up 3 cents, May soybeans are up 3 1/4 cents and July KC wheat is unchanged. CME Globex Recap: European stocks and U.S. stock futures are trading higher early Friday with encouraging reports that an anti-viral drug, Remdesivir, is having positive results treating severe symptoms of COVID-19. The National Institute of Health is conducting studies that are supposed to be released in mid-May, reported the ChicagoSunTimes.com. The White House issued guidelines Thursday for how states may transition back to more active status. May crude oil is trading down $1.40 a barrel, but the June contract is up 17 cents, reflecting more optimism a couple months out. Grains are mostly higher, yet cautious about Friday morning's news. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average up 33.33 at 23,537.68 and the S&P 500 up 16.19 at 2,799.55 while the 10-Year Treasury yield ended at 0.61%. Early Friday, June Dow Jones futures are up 660 points. Asian markets are higher with Japan's Nikkei 225 up 607.06 points (3.1%) and China's Shanghai Composite up 18.56 points (0.7%). European markets are higher with London's FTSE 100 up 169.99 points (3.0%), Germany's DAX up 312.66 points (3.0%) and France's CAC 40 up 152.04 points (3.5%). The June euro is down $.0024 at $1.0838. The June U.S. dollar index is up .15 at 100.25. The June 30-year T-bond is down 19/32, while June gold is down $24.60 at $1,707.10 and June crude oil is up $0.09 at $25.62. Soybeans are slightly higher on China's Dalian Exchange while soybean meal is slightly lower. June palm oil is up 36 ringgits overnight and still near its lowest price in six months.