DTN Early Word Grains 05/29 05:56

DTN Early Word Grains 05/29 05:56 Grains Higher, Soy Lower into the Weekend July corn is up 1 cent per bushel, July soybeans are down 2 1/2 cents, and July KC wheat is up 2 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: July corn is up 1 cent per bushel, July soybeans are down 2 1/2 cents, and July KC wheat is up 2 cents. CME Globex Recap: Equities are mostly lower overnight with the U.S. staring at a lower open later Friday morning. Financial media are focused on possible retaliation from President Trump at his press conference later Friday after Beijing approved a sweeping national security law for Hong Kong. Most believe sanctions will be levied against China and Chinese officials for the new law which had the effect of removing Hong Kong's special trade status. Energy markets are weaker with crude oil futures off close to 3.5%. Fixed income and precious metal markets are higher, led by silver, which is up 1.10%. Grain markets are mixed with higher wheat and corn while soybeans are off a couple cents. Traders are looking forward to export sales later Friday morning as well as the next round of weather maps midday. From now through July, markets will be especially sensitive to changes from one model run to the next, which is where the term "silly season" comes from. Welcome to the "silly season." OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average down 147.63 at 25,400.64 and the S&P 500 down 6.40 at 3,036.13 while the 10-Year Treasury yield ended at 0.705%. Early Friday, the June DJIA futures are down 98 points. Asian markets are mixed with Japan's Nikkei 225 down 38.42 (-0.18%) and China's Shanghai Composite up 6.13 points (0.22%). European markets are lower with London's FTSE 100 down 59 points (-0.95%), Germany's DAX down 119.73 points (-1.02%) and France's CAC 40 up 37.77 points (-0.79%). The June Euro is up 0.005 at 1.110 and the June U.S. dollar index is down 0.317 at 98.055. The June 30-Year T-Bond is up 26/32nds, while June gold is up $12.30 at $1,725.60 and July crude oil is down $1.09 at $32.62. Soybeans on China's Dalian Exchange were up 0.07% while soybean meal was down -0.75%.