DTN Early Word Grains 03/17 05:53

DTN Early Word Grains 03/17 05:53 Grains Bounce Overnight May corn is up 9 1/4 cents per bushel, May soybeans are up 9 1/4 cents, and May KC wheat is down 3/4 cent. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: May corn is up 9 1/4 cents per bushel, May soybeans are up 9 1/4 cents, and May KC wheat is down 3/4 cent. CME Globex Recap: Mixed equity trade overnight with Asia closing higher following the surge in the States Wednesday but European indices are lower overnight. U.S. futures look to open slightly lower as it would appear the Fed decision to only raise rates 25 basis points instead of 50 isn't enough to keep moving sharply higher. Energy prices are stronger overnight with WTI futures knocking on the $100 per barrel level once again. Heating oil futures are especially strong, up 22 cents per gallon, or 7%. Distillate stocks remain tight in the United States, regardless of the cease-fire situation in Ukraine. The U.S. Dollar Index is lower overnight, continuing its correction lower. Metals are higher overnight, led by silver which is up 3.2%. Grain markets are mostly higher overnight with gains led by wheat and corn following the washout the previous session. So far, it looks like money coming back into commodities of all shapes and sizes. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average up 518.76 at 34,063.10 and the S&P 500 up 95.41 at 4,262.45 while the 10-Year Treasury yield ended at 2.188%. Early Thursday, the June DJIA futures are down 78 points. Asian markets are higher with Japan's Nikkei 225 up 890.88 (3.46%) and China's Shanghai Composite up 44.33 points (1.4%). European markets are lower with London's FTSE 100 down 13.83 points (-0.19%), Germany's DAX down 129.28 points (-0.9%) and France's CAC 40 down 23.68 points (-0.36%). The June Euro is up 0.003 at 1.110 and the June U.S. dollar index is down 0.326 at 98.295. The June 30-Year T-Bond is up 39/32nds, while April gold is up $33.40 at $1,942.60 and April crude oil is up $4.40 at $99.44. Soybeans on China's Dalian Exchange were up 1.29% while soybean meal was up 1.5% and corn was flat.