DTN Early Word Grains 06/11 06:10

DTN Early Word Grains 06/11 06:10 Grains Mixed to Weaker Ahead of WASDE July corn is up 1/4 cent per bushel, July soybeans are down 1 3/4 cents, and July KC wheat is down 3 3/4 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: July corn is up 1/4 cent per bushel, July soybeans are down 1 3/4 cents, and July KC wheat is down 3 3/4 cents. CME Globex Recap: Softer equity trade around the globe overnight with U.S. futures pointed toward a lower open and a third straight day of lower closes. Despite a very dovish stance from the Federal Reserve on Wednesday, markets took the gloomy economic outlook from the central bank to heart, especially if a feared second wave of COVID-19 cases surge this fall and winter. The stance from the Federal Reserve pushed the U.S. Dollar Index to fresh lows for the move and the lowest trade since March 10. After an impressive run from the negative trade in late April, crude oil has turned sideways, consolidating between the 100 and 200-day moving averages. Grain markets are mostly lower with the exception of corn which is bouncing around either side of unchanged and Minneapolis wheat. Traders are prepping for the June WASDE, although a major narrative change isn't expected in today's data. Weather remains largely favorable, large supplies are expected in 2020/21 and tensions with China remain a front-burner issue. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average down 282.31 at 26,989.99 and the S&P 500 down 17.04 at 3,207.18 while the 10-Year Treasury yield ended at 0.748%. Early Thursday, the June DJIA futures are down 494 points. Asian markets are lower with Japan's Nikkei 225 down 652.04 (-2.82%) and China's Shanghai Composite down 22.86 points (-0.78%). European markets are lower with London's FTSE 100 down 140.44 points (-2.22%), Germany's DAX down 290.36 points (-2.32%) and France's CAC 40 down 126.1 points (-2.5%). The June Euro is down 0.000 at 1.140 and the June U.S. dollar index is up 0.110 at 96.060. The September 30-Year T-Bond is up 40/32nds, while August gold is up $20.20 at $1,740.90 and July crude oil is down $1.40 at $38.20. Soybeans on China's Dalian Exchange were up 0.71% while soybean meal was up 0.11%.