DTN Early Word Grains 03/09 05:56

DTN Early Word Grains 03/09 05:56 It Must Have Rained Somewhere May corn was fractionally lower, May soybeans were 10 cents lower, and July Kansas City (HRW) wheat was 5 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: May corn was fractionally lower, May soybeans were 10 cents lower, and July Kansas City (HRW) wheat was 5 cents lower. CME Globex Recap: Wheat and soybeans are acting like their respective droughts in the U.S. Southern Plains and Argentina have been broken early Friday. Both are showing losses, with old-crop soybeans down about a dime. Corn is doing what corn does, sitting fractionally lower to start the day. Outside markets find DJIA futures rallying again and the U.S. dollar stronger. Meanwhile, the energy complex rallied and metals were mostly lower. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 93.85 points (0.4%) higher at 24,895.21, the NASDAQ Composite gained 31.30 points (0.4%) to 7,427.95, and the S&P 500 added 12.17 points (0.4%) to 2,738.97 Thursday. DJIA futures were 23 points higher early Friday morning. Asian markets closed mostly higher with Japan's Nikkei 225 up 101.13 points (0.5%), Hong Kong's Hang Seng gaining 341.69 points (1.1%), and China's Shanghai Composite adding 18.76 points (0.6%). European markets were trading mixed with London's FTSE 100 up 1.46 points, Germany's DAX down 46.09 points (0.4%), and France's CAC 40 up 3.92 points. The euro was 0.0018 lower at 1.2295 while the U.S. dollar index gained 0.15 to 90.27. March 30-year T-Bonds were 7/32 lower at 144'12 while April gold dipped $1.40 to $1,320.30. Crude oil was $0.45 higher at $60.47 as Brent crude rallied $0.55 to $64.16. China's Dalian soybean and Malaysian palm oil futures were both lower overnight.