DTN Early Word Grains 05/08 05:55

DTN Early Word Grains 05/08 05:55 Turnaround from Monday, Partially July corn was fractionally higher, July soybeans were 5 cents higher, and July Kansas City (HRW) wheat was fractionally lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was fractionally higher, July soybeans were 5 cents higher, and July Kansas City (HRW) wheat was fractionally lower. CME Globex Recap: The commodity sector had turned around, at least partially from Monday's action early Tuesday morning. Soybeans erased a small part of Monday's loss overnight, rallying 4 cents, while corn was unchanged instead of down. Wheat remained under pressure, due in part to the continued strength of the U.S. dollar. Metals were lower again, although energies decided to take back some of Monday's gains. The same could be said for DJIA futures. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 94.81 points higher (0.4%) at 24,357.32, the Nasdaq Composite gained 55.60 points (0.7%) to 7,265.21, and the S&P 500 added 9.21 points (0.3%) to 2,672.63 Monday. DJIA futures were 40 points lower early Tuesday morning. Asian markets closed higher with Japan's Nikkei 225 up 41.53 points (0.2%), Hong Kong's Hang Seng gaining 408.55 points (1.4%), and China's Shanghai Composite rallying 24.85 points (0.8%). European markets were trading mostly lower with London's FTSE 100 up 6.54 points, Germany's DAX falling 70.83 points (0.6%), and France's CAC 40 down 25.04 points (0.5%). The euro was 0.0043 lower at 1.1880 as the U.S. dollar index gained 0.27 to 93.04. June 30-year T-Bonds were 3/32 lower at 143'15 while June gold dropped $4.10 to $1,310.00. Crude oil was $0.83 lower at $69.90 while Brent crude fell $0.65 to $75.52. China's Dalian soybean futures were lower and Malaysian palm oil futures were mostly lower overnight.