DTN Early Word Grains 06/18 05:58

DTN Early Word Grains 06/18 05:58 Soybeans Quiet in the Face of New Tariffs July corn was down 2 3/4 cents, July soybeans were unchanged, and July Kansas City (HRW) wheat was down 7 1/2 cents. By Todd Hultman DTN Analyst 6:00 a.m. CME Globex: July corn was down 2 3/4 cents, July soybeans were unchanged, and July Kansas City (HRW) wheat was down 7 1/2 cents. CME Globex Recap: It did not take long for China to respond to Friday's new tariffs with $34 billion of their own new tariffs, which include a 25% penalty on U.S. soybean imports. Stock markets are mostly lower around the globe, the U.S. dollar index is slightly lower, and outside commodities are mixed while grains are starting the week mostly lower. OUTSIDE MARKETS: Friday's trading saw the Dow Jones Industrial Average drop 84.83 points to 25,090.48 while the S&P 500 was down 2.83 points to 2,779.66, while the 10-year Treasury yield ended at 2.92%. Early Monday, DJIA futures were down 176 points. Asian markets were lower with Japan's Nikkei 225 down 171.42 points -0.7%) and China's Shanghai Composite on holiday. European markets were also lower with London's FTSE 100 down 12.81 points (-0.2%), Germany's DAX down 132.52 points (-1.0%), and France's CAC 40 down 51.19 points (-0.9%). The euro was down 0.0009 and the U.S. dollar index was down 0.05 to 94.74. June 30-year T-Bonds were up 5/32nds while August gold was up $4.50 to $1,283.00 and August crude oil was down $0.34 at $64.51. China's Dalian Exchange was closed Monday and Malaysian palm oil futures were down 1.2%.