DTN Early Word Grains 01/29 05:55

DTN Early Word Grains 01/29 05:55 Grains Hold Overnight Gains March corn was 2 cents higher, March soybeans were 11 cents higher, and July Kansas City (HRW) wheat was 7 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: March corn was 2 cents higher, March soybeans were 11 cents higher, and July Kansas City (HRW) wheat was 7 cents higher. CME Globex Recap: A stronger U.S. dollar overnight into Monday morning did little to slow the rally in the grain and oilseed complex. Soybeans posted a solid double-digit rally on South American weather, followed by winter wheat tied to U.S. weather, and finally corn. Gold and energies were lower, though selling was relatively quiet. DJIA futures also turned lower overnight following last Friday's 200 point-plus rally by the Big Board. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 223.93 points (0.9%) higher at 26,616.71, the Nasdaq Composite gained 94.61 points (1.3%) to 7,505.77, and the S&P 500 rallied 33.62 points (1.2%) to 2,872.87 Friday. DJIA futures were 29 points lower early Monday morning. Asian markets closed mixed with Japan's Nikkei 225 slipping 2.54 points, Hong Kong's Hang Seng down 187.23 points (0.6%), and China's Shanghai Composite off 35.13 points (1.0%). European markets were trading mostly lower with London's FTSE 100 up 10.45 points (0.1%), Germany's DAX down 34.71 points (0.3%), and France's CAC 40 off 6.34 points (0.1%). The euro was 0.0024 lower at 1.2402 as the U.S. dollar index gained 0.23 to 89.25. March 30-year T-Bonds were 1 3/32 lower at 147'22 while February gold lost $7.00 to $1,345.10. Crude oil was $0.25 lower at $65.89 and Brent crude lost $0.56 to $69.96. China's Dalian soybean futures were mixed and Malaysian palm oil futures were higher overnight.