DTN Early Word Grains 06/13 06:17

DTN Early Word Grains 06/13 06:17 Grains Mixed to Higher as Wet Weather Concerns Persist July corn is up 5 1/2 cents per bushel, July soybeans are up 4 cents, and July K.C. wheat is down 3/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: July corn is up 5 1/2 cents per bushel, July soybeans are up 4 cents, and July K.C. wheat is down 3/4 cents. CME Globex Recap: Equity markets are mixed on Thursday and the energy complex is recovering after WTI crude oil slipped into a bear market for the year after falling 20% from its April peak. Crude oil supplies remain plentiful with weekly stocks in the U.S. almost 60 million barrels larger than the same week a year ago, and nearing the highest level of the last five years. Grains are mixed to firmer with row crops higher and wheat contracts slightly easier. Bulls are starting to express more concern over the number of soybean acres left to plant and the current forecast putting rain over the central and Eastern Corn Belt. The soybean market has a long way to go before it will entertain fundamentals as supportive as the corn market, but there is no better way to curb excessive supply than drastically reduce production from one year to the next. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average down 43.68 at 26,004.83 and the S&P 500 down 5.88 at 2,885.72 while the 10-year Treasury yield ended at 2.127%. Early Thursday, the June DJIA futures are up 74 points. Asian markets are mixed with Japan's Nikkei 225 down 97.72 (-0.46%) and China's Shanghai Composite up 1.36 points (0.05%). European markets are higher with London's FTSE 100 up 26.7 points (0.41%), Germany's DAX up 83.14 points (0.69%) and France's CAC 40 up 17.05 points (0.32%). The June euro is up 0.000 at 1.130 and the June U.S. dollar index is down 0.025 at 96.945. The September 30-year T-Bond is up 6/32nds, while August gold is up $3.90 at $1,340.70 and July crude oil is up $1.55 at $52.69. Soybeans on China's Dalian Exchange were up 0.47% while soybean meal was up 1.86%.