DTN Early Word Grains 02/26 05:53

DTN Early Word Grains 02/26 05:53 Exciting Times Ahead May corn was 2 cents higher, May soybeans were 7 cents higher, and July Kansas City (HRW) wheat was 6 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: May corn was 2 cents higher, May soybeans were 7 cents higher, and July Kansas City (HRW) wheat was 6 cents higher. CME Globex Recap: The overnight markets are once again pointing to an exciting Monday with soybean meal up nearly $5 per ton, soybeans up 7 cents, DJIA futures posting a triple-digit rally, and gold up double-digits. Meanwhile the U.S. dollar index is showing another solid sell-off. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 347.51 points (1.4%) higher at 25,309.99, the NASDAQ Composite gained 127.31 points (1.8%) to 7,337.39, and the S&P 500 rallied 43.34 points (1.6%) to 2,747.30 Friday. DJIA futures were 171 points higher early Monday morning. Asian markets closed higher with Japan's Nikkei 225 up 260.85 points (1.2%), Hong Kong's Hang Seng adding 231.43 points (0.7%), and China's Shanghai Composite up 40.55 points (1.2%). European markets were trading higher with London's FTSE 100 up 24.04 points (0.3%), Germany's DAX gaining 46.77 points (0.4%), and France's CAC 40 rallying 28.17 points (0.5%). The euro was 0.0047 higher at 1.2345 (no, I didn't make that series up) while the U.S. dollar index lost 0.33 to 89.55. March 30-year T-Bonds were 8/32 higher at 144'10 while April gold gained $10.50 to $1,340.80. Crude oil was $0.07 lower at $63.48 and Brent crude slipped $0.14 to $67.17. China's Dalian soybean and Malaysian palm oil futures were both higher again overnight.