DTN Early Word Grains 05/14 05:58

DTN Early Word Grains 05/14 05:58 Grains Soft on Weather, Supplies July corn is down 1/2 cent per bushel, July soybeans are down 2 1/4 cents, and July KC wheat is down 5 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: July corn is down 1/2 cent per bushel, July soybeans are down 2 1/4 cents, and July KC wheat is down 5 cents. CME Globex Recap: Weaker equity prices around the globe overnight with losses projected in the U.S. ahead of the latest round of weekly jobless claims. Another 2.5 million people are predicted to have filed for unemployment claims in the last week, the lowest in seven weeks but still adds to the 33.8 million people who have already filed unemployment claims. That figure would represent around 21.3% of the 158.8 million people who were employed in February according to the Labor Department survey. Grains are weaker, pressure by favorable weather forecasts in the Southern Plains, warming temperatures across much of the Corn Belt next week and concerns over tension between the U.S. and China. Analysts continue to have an optimistic view toward commodities once the money-printing enacted by most central banks to stimulate the global economy produces inflation, but it feels like that phenomenon is not close to occurring yet. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average down 516.81 at 23,247.97 and the S&P 500 down 50.12 at 2,870.12 while the 10-Year Treasury yield ended at 0.649%. Early Thursday, the June DJIA futures are down 55 points. Asian markets are lower with Japan's Nikkei 225 down 352.27 (-1.74%) and China's Shanghai Composite down 27.71 points (-0.96%). European markets are lower with London's FTSE 100 down 138.57 points (-2.35%), Germany's DAX down 188.05 points (-1.78%) and France's CAC 40 down 86.5 points (-1.99%). The June Euro is down 0.002 at 1.080 and the June U.S. dollar index is up 0.084 at 100.375. The June 30-Year T-Bond is up 28/32nds, while June gold is up $8.70 at $1,725.10 and July crude oil is up $1.21 at $26.89. Soybeans on China's Dalian Exchange were down 1.63% while soybean meal was down 1.03%.