DTN Early Word Grains 05/20 06:42

DTN Early Word Grains 05/20 06:42 Grains Mixed at Midweek July corn is down 2 3/4 cents per bushel, July soybeans are up 3 1/4 cents, and July KC wheat is down 2 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 up 3 1/4 cents, and July KC wheat is down 2 cents. CME Globex Recap: Equity markets were mixed in Asia and Europe overnight but U.S. futures are pointing to strong gains of over 1.0% at the open. Financial media have the same headlines of the past few days with optimism toward a vaccine but tensions rising with China as the Whitehouse attempts to attach blame to the country for the global pandemic. Whitehouse economic advisor Larry Kudlow said Tuesday the U.S.-China trade deal is "absolutely not" under threat. Energy markets are higher as spot crude oil remains above its 50-day moving average and continues to trend toward its 100-day at 37.39. Precious metals remain bid with a sharp rally in the latter the last five sessions. Grains are mixed with weaker grain prices but firmer oilseeds. Wednesday is likely to feature additional chatter related to the latest government aid program for farmers. Support programs tied to production, which many recent programs have been, will continue encourage supply regardless of market signals. The longer-term implications of such programs should be part of the discussion. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average down 390.51 at 24,206.86 and the S&P 500 down 30.97 at 2,953.91 while the 10-Year Treasury yield ended at 0.711%. Early Wednesday, the June DJIA futures are up 288 points. Asian markets are mixed with Japan's Nikkei 225 up 161.7 (0.79%) and China's Shanghai Composite down 14.84 points (-0.51%). European markets are mixed with London's FTSE 100 up 5.49 points (0.09%), Germany's DAX up 43.23 points (0.6%) and France's CAC 40 down 11.81 points (-0.26%). The June Euro is down 0.001 at 1.090 and the June U.S. dollar index is up 0.019 at 99.385. The June 30-Year T-Bond is up 10/32nds, while June gold is up $9.80 at $1,755.40 and July crude oil is up $0.10 at $32.06. Soybeans on China's Dalian Exchange were down 0.93% while soybean meal was up 0.18%.