DTN Early Word Grains 05/01 07:56

DTN Early Word Grains 05/01 07:56 Grains Higher, Soy Complex Lower to Finish Week May corn is up 3 3/4 cents per bushel, May soybeans are down 1 1/4 cents, and May KC wheat is up 10 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices July corn is down 2 3/4 cents per bushel, July soybeans are down 5 1/2 cents, and July KC wheat is down 7 cents. CME Globex Recap Happy May Day! Global equity markets are weaker around the globe overnight as corporate earnings have gotten off to a weak start while tensions between the U.S. and China seem to be escalating over the coronavirus. President Trump raised the prospect of using tariffs to punish China for the global coronavirus pandemic but denied claims he was thinking of cancelling U.S. debt held by China. Energy markets are weaker overnight with spot crude oil off a little over 1.0% but still up $1.67 on the week. Grain futures are weaker across the board on the final session of the week, giving back a good portion of the gains made Thursday. China seems to be at the epicenter of all markets at current which seems to be both good and bad at the same time. The focus of grain markets are spring planting in the U.S., potential Chinese purchases of U.S. ag products and weather in the Black Sea. Seasonals still point toward strength in futures into the summer months but analogs mean very little in year like 2020. OUTSIDE MARKETS Previous closes on Thursday showed the Dow Jones Industrial Average down 288.14 at 24,345.72 and the S&P 500 down 27.08 at 2,939.51 while the 10-Year Treasury yield ended at 0.622%. Early Friday, the June DJIA futures are down 412 points. Asian markets are mixed with Japan's Nikkei 225 down 574.34 (-2.84%) and China's Shanghai Composite was closed. European markets are lower with London's FTSE 100 down 131.07 points (-2.1%), Germany's DAX down 246.1 points (-2.22%) and France's CAC 40 down 98.93 points (-2.12%). The June Euro is up 0.004 at 1.100 and the June U.S. dollar index is down 0.158 at 98.870. The June 30-Year T-Bond is up 7/32nds, while June gold is down $6.70 at $1,687.50 and June crude oil is down $0.25 at $18.59. China's Dalian market was closed. Malaysian palm oil was down 0.79% overnight.