DTN Early Word Grains 06/15 05:56

DTN Early Word Grains 06/15 05:56 Must've Rained Somewhere December corn was 2 cents lower, November soybeans were 4 cents lower, and September Minneapolis (HRS) wheat was 9 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: December corn was 2 cents lower, November soybeans were 4 cents lower, and September Minneapolis (HRS) wheat was 9 cents lower. CME Globex Recap: DTN's 24-hour rainfall map shows generally good coverage across the eastern Northern Plains and most of the U.S. Midwest, except for Illinois. While U.S. crops will need more rain, the last 24 to 36 hours at least provided some relief and brought selling back to the grain markets. In addition to weather, the FOMC increased the Fed Fund rate by 0.25% Wednesday, sparking a solid rally in the U.S. dollar index and putting pressure on DJIA futures overnight. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 46.09 points (0.2%) higher at 21,374.56, the NASDAQ Composite lost 25.48 points (0.4%) to 6,194.89, and the S&P 500 dipped 2.43 points (0.1%) to 2,437.92 Wednesday. DJIA futures were 82 points lower early Thursday morning. Asian markets closed mostly lower with Japan's Nikkei off 51.70 points (0.3%), Hong Kong's Hang Seng down 310.56 points (1.2%), and China's Shanghai Composite up 1.81 points. European markets were trading lower with London's FTSE 100 down 57.98 points (0.8%), Germany's DAX falling 97.77 points (0.8%), and France's CAC 40 losing 46.75 points (0.9%). The euro was 0.0056 lower at 1.1162 while the U.S. dollar index was 0.36 higher at 97.31. September 30-year T-Bonds were 4/32 higher at 155'24 while August gold fell $15.00 to $1,260.90. Crude oil was $0.05 lower at $44.68 while Brent crude gained $0.05 to $47.05. China's Dalian soybean and Malaysian palm oil futures were both higher overnight.