DTN Early Word Grains 05/28 05:50

DTN Early Word Grains 05/28 05:50 Grains Higher As Forecast Stays Wet July corn is up 10 1/2 cents, July soybeans are up 14 1/2 cents, and July K.C. wheat is up 19 1/2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: July corn is up 10 1/2 cents, July soybeans are up 14 1/2 cents, and July K.C. wheat is up 19 1/2 cents. CME Globex Recap: Global equity markets are mixed to weaker overnight following a generally positive showing while the United States was on holiday. Little on the trade front with China this weekend although President Trump did say during his meetings with Japanese Prime Minister Abe that the U.S. is "not ready" to make a trade deal with China, although he added that he expects a "great trade deal" sometime in the future. Grain markets are sharply higher across the board following the Memorial Day weekend with bulls running wild on planting delays and ideas of tight balance sheets in 2019/20. The announcement of a new Market Facilitation Payment as well as a hurricane disaster bill which included some prevent plant assistance only muddied the water last week as to what producers will decide to do with remaining acres. Continuous corn prices are closing in on their highest level in a year. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average up 95.22 at 25,585.69 and the S&P 500 up 3.82 at 2,822.24 while the 10-Year Treasury yield ended at 2.324%. Early Tuesday, the June DJIA futures are unchanged. Asian markets are higher with Japan's Nikkei 225 up 77.56 (0.37%) and China's Shanghai Composite up 17.53 points (0.61%). European markets are lower with London's FTSE 100 down 1 point (-0.01%), Germany's DAX down 45.42 points (-0.38%) and France's CAC 40 down 25.94 points (-0.49%). The June Euro is down 0.001 at 1.120 and the June U.S. dollar index is up 0.098 at 97.575. The June 30-Year T-Bond is up 24/32nds, while June gold is down $0.60 at $1,283.00 and July crude oil is up $0.53 at $59.16. Soybeans on China's Dalian Exchange were down -0.42% while soybean meal was up 0.57%.