DTN Early Word Grains 05/02 05:58

DTN Early Word Grains 05/02 05:58 Another Lower Start to the Day July corn was 1 cent lower, July soybeans were 4 cents lower, and July Kansas City (HRW) wheat was 3 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 1 cent lower, July soybeans were 4 cents lower, and July Kansas City (HRW) wheat was 3 cents lower. CME Globex Recap: It's interesting that the grain and oilseed complex wants to move in step with the U.S. dollar these days rather than heading the opposite direction. The overnight session was more of the same with a weaker U.S. dollar as corn edged lower while wheat and soybeans found renewed selling interest. Still, the complex was in a similar position 24 hours ago and markets were able to close higher. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 64.10 points (0.3%) lower at 24,099.05, the NASDAQ Composite gained 64.44 points (0.9%) to 7,030.70, and the S&P 500 added 6.75 points (0.2%) to 2,654.80 Tuesday. DJIA futures were 5 points lower early Wednesday morning. Asian markets closed mostly lower with Japan's Nikkei 225 down 35.25 points (0.2%), Hong Kong's Hang Seng losing 84.57 points (0.3%), and China's Shanghai Composite off 1.05 points. European markets were trading higher with London's FTSE 100 up 35.81 points (0.5%), Germany's DAX gaining 145.24 points (1.1%), and France's CAC 40 rallying 9.26 points (0.2%). The euro was 0.0006 higher at 1.1998 while the U.S. dollar index slipped 0.04 to 92.42. June 30-year T-Bonds were 11/32 lower at 142'26 while June gold gained $4.40 to $1,311.20. Crude oil was $0.13 higher at $67.38 as Brent crude lost $0.23 to $72.90. China's Dalian soybean and Malaysian palm oil futures were both slightly higher overnight.