DTN Early Word Grains 05/29 05:53

DTN Early Word Grains 05/29 05:53 Grains Build Bullish Momentum Overnight July corn was 3 cents higher, July soybeans were 5 cents higher, and July Kansas City (HRW) wheat was 10 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 3 cents higher, July soybeans were 5 cents higher, and July Kansas City (HRW) wheat was 10 cents higher. CME Globex Recap: The grain and oilseed complex was trading higher early Tuesday morning, gaining bullish momentum as the overnight session wore on. Kansas City (HRW) wheat led the way once again with the July contract climbing as much as 10 cents. The move in grain and oilseeds was made more impressive by the continued strengthening of the U.S. dollar overnight. Meanwhile, DJIA futures had fallen to a triple-digit loss, gold was down slightly, and the energy complex was mostly lower. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 58.67 points (0.2%) lower at 24,753.09 the NASDAQ Composite gained 9.42 points (0.1%) to 7,433.85, and the S&P 500 fell 6.43 points (0.2%) to 2,721.33 Friday. DJIA futures were 155 points lower early Tuesday morning. Asian markets closed lower with Japan's Nikkei 225 down 122.66 points (0.5%), Hong Kong's Hang Seng down 307.68 points (1.0%), and China's Shanghai Composite down 14.62 points (0.5%). European markets were trading lower with London's FTSE 100 down 101.53 points (1.3%), Germany's DAX down 194.06 points (1.5%), and France's CAC 40 down 85.09 points (1.6%). The euro was 0.0076 lower at 1.1549 as the U.S. dollar index gained 0.37 to 94.79. The 10-year Treasury yield closed at 2.931% Friday with June 30-year T-Bonds 1 1 7/32 higher at 144'29 overnight. August gold lost $1.30 to $1,307.70 while crude oil dropped $0.84 to $67.04. China's Dalian soybean futures were higher and Malaysian palm oil futures were lower overnight.