DTN Early Word Grains 06/04 05:55

DTN Early Word Grains 06/04 05:55 A Strange Morning, to Say the Least July corn was 3 cents lower, July soybeans were 10 cents lower, and July Kansas City (HRW) wheat was 10 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 3 cents lower, July soybeans were 10 cents lower, and July Kansas City (HRW) wheat was 10 cents lower. CME Globex Recap: The U.S. dollar was weaker, yet commodities in general were lower. Global economic and trade uncertainty abounds, yet DJIA futures were posting another triple-digit gain. It didn't rain across the U.S. Midwest for much of the weekend, yet corn and soybeans were hit hard overnight. Winter wheat harvest has started and production prospects remain grim, yet Kansas City was down a dime to start the week. This is the market world we live in these days. Strange days indeed. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 219.37 points (0.9%) higher at 24,635.21, the NASDAQ Composite gained 112.22 points (1.5%) to 7,554.33, the S&P 500 rallied 29.35 points (1.1%) to 2,734.62, and 10-year Treasury yield closed at 2.895% Friday. DJIA futures were 131 points higher early Monday morning. Asian markets closed mostly higher with Japan's Nikkei 225 up 304.59 points (1.4%), Hong Kong's Hang Seng up 505.07 points (1.7%), and China's Shanghai Composite up 16.05 points (0.5%). European markets were trading higher with London's FTSE 100 up 54.71 points (0.7%), Germany's DAX up 36.74 points (0.3%), and France's CAC 40 up 24.27 points (0.4%). The euro was 0.0074 higher at 1.1733 as the U.S. dollar index lost another 0.39 to 93.76. June 30-year T-Bonds 12/32 lower at 144'14 while August gold lost $1.50 to $1,297.80 and crude oil dropped $0.35 to $65.46. China's Dalian soybean futures were higher and Malaysian palm oil futures were lower overnight.