DTN Early Word Grains 05/09 06:04

DTN Early Word Grains 05/09 06:04 Leftovers from Tuesday July corn was fractionally lower, July soybeans were fractionally lower, 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 fractionally lower, July soybeans were fractionally lower, and July Kansas City (HRW) wheat was 5 cents lower. CME Globex Recap: Tuesday was a busy news day with the administration announcing plans to attach RINs to ethanol exports, and allow E15 fuel sales year round, as well as the U.S. pulling out of the Iranian nuclear accord. Markets didn't know how to react, either during Tuesday's session or overnight into Wednesday morning. Corn was near unchanged while crude oil erased the previous day's sharp $2 sell-off with a similar rally overnight. Meanwhile, gold fell despite the perceived global chaos a nuclear Iran could create. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 2.89 points higher at 24,360.21, the Nasdaq Composite gained 1.69 points to 7,266.90, and the S&P 500 lost 0.71 point to 2,671.92 Tuesday. DJIA futures were 120 points higher early Wednesday morning. Asian markets closed mixed with Japan's Nikkei 225 down 99.81 points (0.4%), Hong Kong's Hang Seng up 133.33 points (0.4%), and China's Shanghai Composite off 2.35 points. European markets were trading mostly higher with London's FTSE 100 up 43.93 points (0.6%), Germany's DAX gaining 42.87 points (0.3%), and France's CAC 40 up 4.67 points. The euro was 0.0009 lower at 1.1855 as the U.S. dollar index added 0.09 to 93.18. June 30-year T-Bonds were 26/32 lower at 142'18 while June gold lost $7.10 to $1,310.60. Crude oil was $1.79 higher at $70.85 while Brent crude gained $1.94 to $76.79. China's Dalian soybean and Malaysian palm oil futures were lower overnight.