DTN Early Word Grains 04/15 05:59

DTN Early Word Grains 04/15 05:59 Wheat Selloff Continues May corn is down 1/2 cent per bushel, May soybeans are up 1 1/2 cents, and July KC wheat is down 8 1/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: May corn is down 1/2 cent per bushel, May soybeans are up 1 1/2 cents, and July KC wheat is down 8 1/4 cents. CME Globex Recap: Global equity markets are lower overnight, taking cues from the energy complex which is sharply lower overnight. Spot WTI crude oil futures are back below $20.00 per barrel and just above March lows as demand concerns are still trumping supply cuts being proposed by OPEC+. Wednesday's data from the Energy Information Administration is expected to show a further build in crude oil and product stocks as the U.S. grows closer to peak storage. The energy and livestock industries are facing the same problem with fears about what happens when there is nowhere to go with product. Grain markets are mixed overnight with higher soybeans and soy meal but lower corn and wheat. Wheat markets are following through on Tuesday's sell efforts with an ugly session at mid-week. Wheat is famous for having nine lives, and it would seem as though the trade is convinced the wheat crops in the Southern Plains and southern Russia have several left this growing season. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 558.99 at 23,949.76 and the S&P 500 up 84.43 at 2,761.63 while the 10-Year Treasury yield ended at 0.752%. Early Wednesday, the June DJIA futures are down 405 points. Asian markets are lower with Japan's Nikkei 225 down 88.72 (-0.45%) and China's Shanghai Composite down 16.11 points (-0.57%). European markets are lower with London's FTSE 100 down 118.46 points (-2.05%), Germany's DAX down 226.57 points (-2.12%) and France's CAC 40 down 84.96 points (-1.88%). The June Euro is down 0.007 at 1.090 and the June U.S. dollar index is up 0.645 at 99.530. The June 30-Year T-Bond is up 60/32nds, while June gold is down $22.30 at $1,746.60 and May crude oil is down $0.70 at $19.41. Soybeans on China's Dalian Exchange were up 4.23% while soybean meal was up 0.25%.