DTN Early Word Grains 05/11 05:57

DTN Early Word Grains 05/11 05:57 Grains Have Moved On, Mostly Up Early Thursday July corn was fractionally lower, July soybeans were 3 cents higher, and July Chicago (SRW) wheat was 2 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was fractionally lower, July soybeans were 3 cents higher, and July Chicago (SRW) wheat was 2 cents higher. CME Globex Recap: The grain complex was mostly higher early Thursday, with only corn giving back a small part of its post-USDA report charge. Soybeans generally erased Wednesday's loss, an interesting move in itself, with small gains also seen in bean oil and meal. Outside markets were mostly higher with solid gains seen once again in crude oil while gold worked higher. Softs were mostly higher with cotton able to rally overnight. The U.S. dollar index and DJIA futures were both lower. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 32.67 points (0.2%) lower at 20,943.11, the NASDAQ Composite added 8.56 points (0.1%) to 6,129.14, and the S&P 500 gained 2.71 points (0.1%) to 2,399.63 Wednesday. DJIA futures were 23 points lower early Thursday morning. Asian markets closed higher with Japan's Nikkei up 61.46 points (0.3%), Hong Kong's Hang Seng gaining 110.13 points (0.4%), and China's Shanghai Composite rallying 8.72 points (0.3%). European markets were trading mostly lower with London's FTSE 100 off 8.26 points (0.1%), Germany's DAX down 1.85 points, and France's CAC 40 losing 2.07 points. The euro was 0.0004 higher at 1.0873 while the U.S. dollar index dipped 0.05 to 99.58. June 30-year T-Bonds were 7/32 higher at 150'24 while June gold added $3.50 to $1,222.40. Crude oil was $0.74 higher at $48.07 while Brent crude was up $0.75 at $50.97. China's Dalian soybean futures showed small losses while Malaysian palm oil futures posted gains for the fifth consecutive night.