DTN Early Word Grains 06/14 05:57

DTN Early Word Grains 06/14 05:57 Despite Rains, Grains Gain December corn was 2 cents higher, November soybeans were 4 cents higher, and September Minneapolis (HRS) wheat was 16 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 2 cents higher, November soybeans were 4 cents higher, and September Minneapolis (HRS) wheat was 16 cents higher. CME Globex Recap: Overnight rains across the western Corn Belt didn't dampen the bullish enthusiasm of the grain complex, particularly Minneapolis spring wheat. Activity in corn soybeans was quieter than what was seen in wheat, while the soft complex saw cotton move higher while the rest of the markets remain under pressure. Energy markets were also under pressure and metals mostly higher. Meanwhile, DJIA futures and the U.S. dollar index were both showing gains ahead of the conclusion of the FOMC's two-day meeting. The general consensus seems to be an announcement of an interest rate hike will be made early Wednesday afternoon. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 92.80 points (0.4%) higher at 21,328.47, the NASDAQ Composite gained 44.90 points (0.7%) to 6,220.37, and the S&P 500 added 10.96 points (0.5%) to 2,440.35 Tuesday. DJIA futures were 24 points higher early Wednesday morning. Asian markets closed mixed with Japan's Nikkei off 15.23 points (0.1%), Hong Kong's Hang Seng rallying 23.80 points (0.1%), and China's Shanghai Composite down 23.07 points (0.7%). European markets were trading higher with London's FTSE 100 up 34.12 points (0.5%), Germany's DAX gaining 89.95 points (0.7%), and France's CAC 40 adding 49.68 points (0.9%). The euro was 0.0009 lower at 1.1203 while the U.S. dollar index was 0.05 higher at 97.05. September 30-year T-Bonds were 6/32 higher at 154'07 while August gold gained $0.80 to $1,269.40. Crude oil was $0.55 lower at $45.91 while Brent crude lost $0.45 to $48.27. China's Dalian soybean futures were mostly lower while Malaysian palm oil futures were higher overnight.