DTN Early Word Grains 05/27 05:59

DTN Early Word Grains 05/27 05:59 Grains Higher at Midweek July corn is up 1 1/4 cents per bushel, July soybeans are up 2 3/4 cents, and July KC wheat is up 5 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 2 3/4 cents, and July KC wheat is up 5 cents. CME Globex Recap: Global equity markets are mostly higher as the focus shifts back to countries and states re-opening from coronavirus lockdowns as opposed to U.S. and Chinese trade tensions. As of late, it has felt like it is one of the two aforementioned narratives depending on which direction markets re trading. Energy markets are weaker with spot crude oil down 1.2% and failing so far to push through its 100-day moving average. Precious metals are mixed with gold lower and silver higher. Grain markets are higher across the board, led by Kansas City wheat and soybean oil. The weekly crop progress report released Tuesday afternoon was mostly as expected and weather forecasts are non-threatening well into June. Crop conditions should maintain current levels or improve the next two weeks, which should keep the pressure on bulls. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 529.95 at 24,995.11 and the S&P 500 up 36.32 at 2,955.45 while the 10-Year Treasury yield ended at 0.698%. Early Wednesday, the June DJIA futures are up 343 points. Asian markets are mixed with Japan's Nikkei 225 up 148.06 (0.7%) and China's Shanghai Composite down 9.74 points (-0.34%). European markets are higher with London's FTSE 100 up 86.64 points (1.43%), Germany's DAX up 191.16 points (1.66%) and France's CAC 40 up 92.29 points (2%). The June Euro is up 0.003 at 1.100 and the June U.S. dollar index is down 0.146 at 98.760. The June 30-Year T-Bond is down 3/32nds, while June gold is down $7.60 at $1,698.00 and July crude oil is down $0.44 at $33.91. Soybeans on China's Dalian Exchange were up 1.33% while soybean meal was up 1.04%.