DTN Early Word Grains 02/28 05:56

DTN Early Word Grains 02/28 05:56 Soybean Meal, HRW Wheat Press Higher May corn was 3/4 cent higher, May soybeans were 9 cents higher, and July Kansas City (HRW) wheat was 7 1/2 cents higher. By Todd Hultman DTN Analyst 6:00 a.m. CME Globex: May corn was 3/4 cent higher, May soybeans were 9 cents higher, and July Kansas City (HRW) wheat was 7 1/2 cents higher. CME Globex Recap: Grain-related contracts paint the commodity board green early Wednesday with bullish leadership coming once again from soybean meal and K.C. wheat. Outside commodities are starting mixed after traders found hawkish sound bites in Tuesday's comments from the new Fed Chairman. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 299.24 points (-1.2%) lower at 25,410.03, the NASDAQ Composite fell 91.11 points (-1.2%) to 7,330.35, and the S&P 500 dropped 35.32 points (-1.3%) to 2,744.28 Tuesday. DJIA futures were 12 points higher early Wednesday morning. Asian markets were lower with Japan's Nikkei 225 down 321.62 points (-1.4%), Hong Kong's Hang Seng down 423.94 points (-1.4%), and China's Shanghai Composite down 32.66 points (-1.0%). European markets were also lower with London's FTSE 100 down 22.62 points (-0.3%), Germany's DAX down 35.40 points (-0.3%), and France's CAC 40 down 23.15 points (-0.4%). The euro was 0.0021 lower at 1.2231 while the U.S. dollar index gained 0.10 to 90.47. March 30-year T-Bonds were 9/32 higher at 143'27 while April gold gained $2.30 to $1,320.90. Crude oil was $0.07 lower at $62.94 and Brent crude was down $0.08 to $66.55. China's Dalian soybean were higher and Malaysian palm oil futures were up 0.7% overnight.