DTN Early Word Grains 05/10 05:57

DTN Early Word Grains 05/10 05:57 Bouncing Back from Wednesday July corn was 1 cent higher, July soybeans were 3 cents higher, and July Kansas City (HRW) wheat was 5 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 1 cent higher, July soybeans were 3 cents higher, and July Kansas City (HRW) wheat was 5 cents higher. CME Globex Recap: The grain and oilseed complex bounced back from Wednesday's lower close to trade higher overnight into Thursday morning. Some might say it's a "Turnaround Thursday." The fate of the markets will be determined by USDA late Thursday morning with the release of the May Supply and Demand and Crop Production reports. The general consensus is this set of numbers is expected to be extremely bullish for corn, less so for soybeans and wheat. Energies and metals were also higher overnight as the U.S. dollar index weakened. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 182.33 points (0.8%) higher at 24,542.24, the Nasdaq Composite gained 73.00 points (1.0%) to 7,339.91, and the S&P 500 added 25.87 points (1.0%) to 2,697.79 Wednesday. DJIA futures were 9 points higher early Thursday morning. Asian markets closed mostly higher with Japan's Nikkei 225 up 88.30 points (0.4%), Hong Kong's Hang Seng gaining 273.08 points (0.9%), and China's Shanghai Composite adding 15.26 points (0.5%). European markets were trading mixed with London's FTSE 100 down 19.35 points (0.3%), Germany's DAX up 65.35 points (0.5%), and France's CAC 40 down 3.75 points. The euro was 0.0023 higher at 1.1876 as the U.S. dollar index lost 0.20 to 92.92. June 30-year T-Bonds were 6/32 higher at 142'27 while June gold gained $2.20 to $1,315.20. Crude oil was $0.52 higher at $71.66 while Brent crude added $0.38 to $77.59. China's Dalian soybean futures were quietly mixed overnight.