DTN Early Word Grains 04/29 05:57

DTN Early Word Grains 04/29 05:57 Grains Mixed, Weather in Focus July corn is up 1/2 cent per bushel, July soybeans are steady, and July KC wheat is down 1/4 cent. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: July corn is up 1/2 cent per bushel, July soybeans are steady, and July KC wheat is down 1/4 cent. CME Globex Recap: Mostly firmer equity markets overnight with energy markets also stronger. The incredible volatility in oil markets persist with spot crude up 12-13% overnight. There is some optimism demand is slowly starting to improve and the industry might be able to avoid a repeat of the May crude oil debacle which saw prices trade negative for the first time in history. Investors are also expecting the Federal Open Market Committee of the Federal Reserve to say it has thrown everything it can at the coronavirus pandemic in terms of monetary policy and it is time to see if it works when it concludes its two-day policy meeting later Wednesday. Grain markets are mixed with row crops higher and wheat markets softer. Traders have been discussing the swift pace of planting in the Western Corn Belt and what balance sheets might look like with trend or higher yields without weather adversity. It is far too early to get the cart before the horse, but the corn market is definitely in need of an upside catalyst with soft demand and mostly favorable planting conditions a double whammy for bulls at the moment. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average down 32.23 at 24,101.55 and the S&P 500 down 15.09 at 2,878.48 while the 10-Year Treasury yield ended at 0.61%. Early Wednesday, the June DJIA futures are up 115 points. Asian markets are mixed with Japan's Nikkei 225 down 12.03 (-0.06%) and China's Shanghai Composite up 12.42 points (0.44%). European markets are higher with London's FTSE 100 up 47.24 points (0.79%), Germany's DAX up 34.38 points (0.32%) and France's CAC 40 down 6.08 points (-0.13%). The June Euro is up 0.001 at 1.090 and the June U.S. dollar index is down 0.164 at 99.770. The June 30-Year T-Bond is up 19/32nds, while June gold is down $3.80 at $1,718.40 and June crude oil is up $1.56 at $13.90. Soybeans on China's Dalian Exchange were up 0.56% while soybean meal was down 0.78%.