DTN Early Word Grains 04/01 05:55

DTN Early Word Grains 04/01 05:55 Grains Weaker Post-USDA May corn is down 1 1/2 cents per bushel, May soybeans are down 10 1/4 cents, and May KC wheat is down 4 3/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: May corn is down 1 1/2 cents per bushel, May soybeans are down 10 1/4 cents, and May KC wheat is down 4 3/4 cents. CME Globex Recap: Global equities are weaker around the globe with investors seemingly spooked after President Trump warned Americans to prepare for a "very, very painful two weeks" with regard to the coronavirus. President Trump told reporters in his daily press briefing there could be between 100,000 and 240,000 deaths even if Americans followed strict social distancing guidelines through the end of April. A swift economic recovery looks fleeting which should keep energy prices depressed for the foreseeable future. Grains are weaker across the board, relinquishing gains posted on Tuesday following somewhat supportive USDA data. Traders seem to realize the world has changed since most of the USDA data presented was collected and prepared. Planting weather will take on added importance in the U.S. with the calendar flipping to April while finishing weather in South American is still a focus. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average down 410.32 at 21,917.16 and the S&P 500 down 42.06 at 2,626.65 while the 10-Year Treasury yield ended at 0.698%. Early Wednesday, the June DJIA futures are down 619 points. Asian markets are lower with Japan's Nikkei 225 down 851.6 (-4.5%) and China's Shanghai Composite down 15.77 points (-0.57%). European markets are lower with London's FTSE 100 down 199.92 points (-3.52%), Germany's DAX down 303.94 points (-3.06%) and France's CAC 40 down 150.95 points (-3.43%). The June Euro is down 0.008 at 1.100 and the June U.S. dollar index is up 0.653 at 99.745. The June 30-Year T-Bond is up 77/32nds, while June gold is up $11.90 at $1,608.50 and May crude oil is up $0.11 at $20.59. Soybeans on China's Dalian Exchange were down 1.52% while soybean meal was down 2.47%.