DTN Early Word Grains 04/06 05:54

DTN Early Word Grains 04/06 05:54 Row Crops Weak as Wheat Rallies May corn is down 2 1/4 cents per bushel, May soybeans are down 4 cents, and May KC wheat is up 12 1/2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: May corn is down 2 1/4 cents per bushel, May soybeans are down 4 cents, and May KC wheat is up 12 1/2 cents. CME Globex Recap: Global equity markets are higher overnight with sharp gains expected in the U.S. after President Trump expressed hope that the coronavirus health crisis was "leveling-off" in some of the nation's hot spots. Energy markets are lower overnight after a planned meeting between OPEC+ was delayed by several days, highlighting the difficulty the group is going to have in agreeing on global crude oil production cuts. The U.S. economy lost 701,000 jobs during the month of March, ending the historic run of job creation and pushing the unemployment rate to 4.4% from 3.5% the month previous. Grains are mixed overnight with weaker row crops while wheat markets tack on double-digit gains in Chicago and Kansas City. Dryness concerns in two of the world's largest exporters are starting to intensify, as are concerns about export availability if the global lockdown persists into summer. The U.S. is well-positioned to capture swing export business with ample supplies to do so. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 360.91 at 21,052.53 and the S&P 500 down 38.25 at 2,526.90 while the 10-Year Treasury yield ended at 0.587%. Early Monday, the June DJIA futures are up 760 points. Asian markets are mixed with Japan's Nikkei 225 up 756.11 (4.24%) and China's Shanghai Composite down 16.65 points (-0.6%). European markets are higher with London's FTSE 100 up 118.59 points (2.04%), Germany's DAX up 421.85 points (4.43%) and France's CAC 40 up 145.65 points (3.51%). The June Euro is down 0.000 at 1.080 and the June U.S. dollar index is up 0.078 at 100.755. The June 30-Year T-Bond is down 59/32nds, while June gold is up $18.30 at $1,664.00 and May crude oil is down $1.19 at $27.15. China's Dalian Commodity Exchange was closed. Malaysian palm oil was up 0.40% overnight.