DTN Early Word Grains 05/19 05:50

DTN Early Word Grains 05/19 05:50 Grains Mixed on China, Weather July corn is up 3/4 cent per bushel, July soybeans are down 1/2 cent, and July KC wheat is down 1 1/2 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: July corn is up 3/4 cent per bushel, July soybeans are down 1/2 cent, and July KC wheat is down 1 1/2 cents. CME Globex Recap: Mixed trade in stocks overnight with higher closes in Asia but weaker trade in Europe as U.S. futures are poised to follow Europe's lead. Breaking news overnight included notice from President Trump to the World Health Organization that he intended to withdraw the U.S. from the global body unless it demonstrates independence from China. The steps are not likely to soothe tensions with China who has not lived up to the pace needed to meet the "phase-one" agreement thus far. The energy complex is maintaining uptrends with crude oil trading to two-month highs. Grains are mixed overnight with corn and some wheat contracts firmer while the soy complex is mixed to weaker. Strength Monday on ideas China was instructing traders to buy more grain and oilseeds for state reserves could be undermined by escalating tensions with Washington. Planting progress was at or ahead of expectations, limiting support for bulls. OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average up 911.95 at 24,597.37 and the S&P 500 up 90.21 at 2,863.70 while the 10-Year Treasury yield ended at 0.744%. Early Tuesday, the June DJIA futures are down 40 points. Asian markets are higher with Japan's Nikkei 225 up 299.72 (1.49%) and China's Shanghai Composite up 23.16 points (0.81%). European markets are lower with London's FTSE 100 down 23.23 points (-0.38%), Germany's DAX down 43.14 points (-0.39%) and France's CAC 40 down 33.28 points (-0.74%). The June Euro is up 0.004 at 1.100 and the June U.S. dollar index is down 0.311 at 99.370. The June 30-Year T-Bond is up 18/32nds, while June gold is up $3.90 at $1,738.30 and July crude oil is down $0.15 at $31.50. Soybeans on China's Dalian Exchange were down 0.14% while soybean meal was up 0.31%.