DTN Early Word Grains 05/04 06:40

DTN Early Word Grains 05/04 06:40 Grains Weak as Weather, Trade Tensions Weigh 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. 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 Global equity markets are lower as trade tensions with China heat back up after comments from President Trump over the weekend. Traders will remain sensitive to any comments from U.S. officials this week which could impact "phase-one" buying that China was seemingly close to restarting. This week will also be a big week for economic data as the U.S. will see the April employment situation report which is expected to show a 21.3 million job decline and an unemployment rate north of 16%. Energy markets are weaker overnight with crude oil off nearly 8% while gold and silver are up over 1%. Grains are weaker along with most commodity markets as trade tensions amid favorable planting conditions and abundant supplies create a very bearish scenario. OUTSIDE MARKETS Previous closes on Friday showed the Dow Jones Industrial Average down 622.03 at 23,723.69 and the S&P 500 down 81.72 at 2,912.43 while the 10-Year Treasury yield ended at 0.642%. Early Monday, the June DJIA futures are down 264 points. Asian markets are closed. European markets are lower with London's FTSE 100 down 13.88 points (-0.24%), Germany's DAX down 330.38 points (-3.05%) and France's CAC 40 down 167.88 points (-3.67%). The June Euro is down 0.004 at 1.090 and the June U.S. dollar index is up 0.360 at 99.460. The June 30-Year T-Bond is up 33/32nds, while June gold is up $19.70 at $1,720.60 and June crude oil is down $1.55 at $18.23. Dalian markets are closed while Malaysian palm oil futures settled 5.08% lower.