DTN Early Word Grains 05/31 05:55

DTN Early Word Grains 05/31 05:55 The Last Boat of the Day July corn was 3 cents higher, July soybeans were 2 cents higher, and July Kansas City (HRW) wheat was 4 cents higher. By Todd Hultman DTN Analyst 6:00 a.m. CME Globex: July corn was 3 cents higher, July soybeans were 2 cents higher, and July Kansas City (HRW) wheat was 4 cents higher. CME Globex Recap: Like the last boat of the day, the last morning of May has finally arrived. And it isn't just any morning, given Monday's holiday and Tuesday's sell-off, it looks to be a "Turnaround Wednesday" in the grain markets. Corn led the charge overnight, gaining back about half of Tuesday's loss, while rallies in Chicago wheat and soybeans were a bit more subdued. Outside commodities remained under pressure with energies, metals, and softs mostly lower. The U.S. dollar index and DJIA futures also failed to turnaround Tuesday's action with both showing small losses again. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 50.81 points (0.2%) lower at 21,029.47, the NASDAQ Composite dipped 7.00 points (0.1%) to 6,203.19, and the S&P 500 lost 2.91 points (0.1%) to 2,412.91 Tuesday. DJIA futures were 4 points lower early Wednesday morning. Asian markets closed mostly lower with Japan's Nikkei down 27.28 points (0.1%), Hong Kong's Hang Seng off 40.98 points (0.2%), and China's Shanghai Composite adding 7.12 points (0.2%). European markets were trading mixed with London's FTSE 100 up 13.98 points (0.2%), Germany's DAX adding 15.64 points (0.1%), and France's CAC 40 off 0.09 point. The euro was 0.0007 higher at 1.1194 while the U.S. dollar index lost 0.15 to 97.25. June 30-year T-Bonds were 2/32 higher at 154'21 while August gold added $1.30 to $1,267.00. Crude oil was $0.86 lower at $48.80 while Brent crude lost $1.04 to $50.80. China's Dalian soybean and Malaysian palm oil futures were both lower overnight.