DTN Early Word Grains 04/16 06:02

DTN Early Word Grains 04/16 06:02 Grains Mixed to Higher as Wheat Stabilizes May corn is up 1 1/4 cents per bushel, May soybeans are down 1/2 cent, and July KC wheat is up 5 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: May corn is up 1 1/4 cents per bushel, May soybeans are down 1/2 cent, and July KC wheat is up 5 cents. CME Globex Recap: Equity markets are mostly higher around the globe overnight as investors are optimistic toward countries beginning to re-open their economics by reducing lockdown measures. Few think this will be a "V-shaped" recovery as economic activity slowly comes back with more people returning to the workforce. However, it is encouraging to believe the worst of the economic fallout has passed, if that is indeed the case. Crude oil prices have recovered back above $20.00 per barrel, a short-term victory after spot prices fell below the psychological support for the second time on Wednesday. Grain prices are mixed with corn and wheat higher while soybeans and soy oil are weaker. Wheat markets are featuring a technical bounce after two heavy days of selling, although forecasts still look encouraging for the Southern Plains and southern Russia moving forward. May corn prices fell below $3.20 on Wednesday and again overnight before recovering, the lowest prices for a May contract in 14 years. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average down 445.41 at 23,504.35 and the S&P 500 down 62.70 at 2,846.06 while the 10-Year Treasury yield ended at 0.638%. Early Thursday, the June DJIA futures are up 117 points. Asian markets are mixed with Japan's Nikkei 225 down 259.89 (-1.33%) and China's Shanghai Composite up 8.76 points (0.31%). European markets are higher with London's FTSE 100 up 8.64 points (0.15%), Germany's DAX up 115.69 points (1.13%) and France's CAC 40 up 36.19 points (0.82%). The June Euro is down 0.004 at 1.090 and the June U.S. dollar index is up 0.409 at 99.895. The June 30-Year T-Bond is up 2/32nds, while June gold is up $17.60 at $1,757.80 and May crude oil is up $0.33 at $20.20. Soybeans on China's Dalian Exchange were up 1.53% while soybean meal was down 0.94%.