DTN Early Word Grains 03/26 05:53

DTN Early Word Grains 03/26 05:53 All's Quiet on the Far-Eastern Front May corn was 1 cent higher, May soybeans were 4 cents higher, and July Kansas City (HRW) wheat was fractionally lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: May corn was 1 cent higher, May soybeans were 4 cents higher, and July Kansas City (HRW) wheat was fractionally lower. CME Globex Recap: Following a weekend full of speculation over possible trade retaliation by China, U.S. markets were mostly higher Sunday night into Monday morning on news the two countries were in negotiations to ease trade tensions. Leading the way was the most vulnerable market to attack, soybeans. Winter wheat, Kansas City in particular, followed suit, with corn bringing up the rear. Also, after losing more than 1,100 points to close out last week, DJIA futures were nearly 300 points higher to start this week. On the other hand the U.S. dollar index was lower while metals and energies were mostly lower to start the day. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 426.49 points (1.8%) lower at 23,533.20, the NASDAQ Composite lost 174.01 points (2.4%) to 6,992.67, and the S&P 500 dropped 55.43 points (2.1%) to 2,588.26 Friday. DJIA futures were 280 points higher early Monday morning. Asian markets closed mixed with Japan's Nikkei 225 up 148.24 points (0.7%), Hong Kong's Hang Seng rallying 239.48 points (0.8%), and China's Shanghai Composite down 19.04 points (0.6%). European markets were trading higher with London's FTSE 100 up 21.88 points (0.3%), Germany's DAX gaining 75.05 points (0.6%), and France's CAC 40 rallying 15.97 points (0.3%). The euro was 0.0052 higher at 1.2408 while the U.S. dollar index dropped 0.28 to 89.21. June 30-year T-Bonds were 13/32 lower at 144'10 while April gold lost $1.90 to $1,348.00. Crude oil was $0.28 lower at $65.60 as Brent crude dipped $0.11 to $70.34. China's Dalian soybean futures were higher and Malaysian palm oil futures were mostly higher overnight.