DTN Early Word Grains 05/08 06:02

DTN Early Word Grains 05/08 06:02 Grains Mixed to Close Higher Week July corn is up 1 1/4 cents per bushel, July soybeans are up 4 3/4 cents, and July KC wheat is down 1 1/4 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: July corn is up 1 1/4 cents per bushel, July soybeans are up 4 3/4 cents, and July KC wheat is down 1 1/4 cents. CME Globex Recap: Global equity markets were higher overnight due in part to comments from U.S. and Chinese officials who claim the "phase-one" trade pact is still on track despite rising tensions between the two countries. U.S. Trade Representative Robert Lighthizer and Treasury secretary Steven Mnuchin held a conference call with Chinese Vice Premier Liu He Thursday night to discuss the implementation of the "phase-one" agreement, according to the Financial Times. Additional talks are scheduled for next week. Energy markets are higher overnight as crude oil continues to cling to its 50-day moving average. Gold and silver are both higher overnight. Grain markets are mixed with firmer row crops but softer wheat as Chinese buying supports the former but forecasts for rain pressures the latter. Wheat markets are just 30 to 60 days away from another harvest in the Northern Hemisphere. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average up 211.25 at 23,875.89 and the S&P 500 up 32.77 at 2,848.42 while the 10-Year Treasury yield ended at 0.631%. Early Friday, the June DJIA futures are up 270 points. Asian markets are higher with Japan's Nikkei 225 up 504.32 (2.56%) and China's Shanghai Composite up 23.82 points (0.83%). European markets are higher with London's FTSE 100 up 82.22 points (1.4%), Germany's DAX up 106.47 points (0.99%) and France's CAC 40 up 42.65 points (0.95%). The June euro is up 0.001 at 1.080 and the June U.S. Dollar Index is down 0.121 at 99.785. The June 30-year T-Bond is up 13/32nds, while June gold is up $6.00 at $1,731.80 and July crude oil is up $0.61 at $25.44. Soybeans on China's Dalian Exchange were up 0.64% while soybean meal was down 0.07%.