DTN Early Word Grains 06/03 05:59

DTN Early Word Grains 06/03 05:59 Row Crops Softer, Wheat Higher to Begin Quarter Two July corn is down 2 1/2 cents, July soybeans are up 1/2 cents, and July K.C. wheat is up 4 1/2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: July corn is down 2 1/2 cents, July soybeans are up 1/2 cents, and July K.C. wheat is up 4 1/2 cents. CME Globex Recap: Softer equity markets to begin quarter two with investors now grappling with a potential tariff tit-for-tat between Mexico and the U.S. in addition to the much more important U.S.-China trade war. Trade skirmishes with multiple developed economies does not seem to be hurting U.S. growth just yet but slower global growth remains a concern. Grain markets are mixed Monday morning with row crops softer and wheat higher as excess moisture concerns remain an issue in the Plains but weather does appear to allow some additional seeding this week. The new crop story is far from over in corn and soybeans but price can only trade higher on uncertainty so long until traders will need confirmation. The weekly crop progress report will be anxiously awaited so as to give a clue on how many million acres remain unseeded with the calendar now into June. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 354.84 at 24,815.04 and the S&P 500 down 36.80 at 2,788.86 while the 10-Year Treasury yield ended at 2.142%. Early Monday, the June DJIA futures are down 92 points. Asian markets are lower with Japan's Nikkei 225 down 190.31 (-0.92%) and China's Shanghai Composite down 8.62 points (-0.3%). European markets are lower with London's FTSE 100 down 35.04 points (-0.49%), Germany's DAX down 33.56 points (-0.29%) and France's CAC 40 down 20.33 points (-0.39%). The June Euro is down 0.000 at 1.120 and the June U.S. dollar index is down 0.036 at 97.630. The September 30-Year T-Bond is up 26/32nds, while August gold is up $7.90 at $1,319.00 and July crude oil is up $0.31 at $53.81. Soybeans on China's Dalian Exchange were down -0.51% while soybean meal was down -0.24%.