DTN Early Word Grains 06/01 05:53

DTN Early Word Grains 06/01 05:53 New Month, Old Story July corn was 1 cent higher, July soybeans were 5 cents higher, and July Kansas City (HRW) wheat was 5 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 1 cent higher, July soybeans were 5 cents higher, and July Kansas City (HRW) wheat was 5 cents lower. CME Globex Recap: The calendar may have flipped to a new page but the story remains the same in the grain and oilseed complex. Corn and soybeans were supported overnight, the latter erasing Thursday's loss, while wheat found light only selling interest. Meanwhile, DJIA futures continue in its wacky ways rally more than 100 points after the Big Board lost over 200 points Thursday. The U.S. dollar was under pressure again, though both gold and crude oil were showing small losses early Friday. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 251.94 points (1.0%) lower at 24,415.84, the NASDAQ Composite lost 20.34 points (0.3%) to 7,442.12, and the S&P 500 fell 18.74 points (0.7%) to 2,705.27 Thursday. DJIA futures were 120 points higher early Friday morning. Asian markets closed mostly lower with Japan's Nikkei 225 down 30.47 points (0.1%), Hong Kong's Hang Seng up 24.35 points (0.1%), and China's Shanghai Composite down 20.34 points (0.7%). European markets were trading higher with London's FTSE 100 up 62.65 points (0.8%), Germany's DAX up 129.86 points (1.0%), and France's CAC 40 up 67.40 points (1.3%). The euro was 0.0016 higher at 1.1710 as the U.S. dollar index dropped another 0.06 to 93.92. The 10-year Treasury yield closed at 2.822% Thursday with June 30-year T-Bonds 1 3/32 lower at 144'29 overnight. August gold dipped $1.00 to $1,303.70 while crude oil slipped $0.19 to $66.85. China's Dalian soybean futures were lower and Malaysian palm oil futures were higher overnight.