DTN Early Word Grains 06/17 10:14

DTN Early Word Grains 06/17 10:14 Grains Mostly Lower as Models Improve July corn is down 1 3/4 cents per bushel, July soybeans are down 1/2 cent, and July KC wheat is down 3 1/4 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: July corn is down 1 3/4 cents per bushel, July soybeans are down 1/2 cent, and July KC wheat is down 3 1/4 cents. CME Globex Recap: Financial markets are mixed overnight with equities mostly firmer, fixed income markets steady, the U.S. Dollar Index slightly firmer and energy markets softer. Financial media headlines overnight are focused on tightening restrictions in Beijing as they try to control the second outbreak of coronavirus in the country. According to the Financial Times, China has canceled flights and closed schools to try to control the outbreak which could be an ominous sign for the United States toward the end of summer. Grain markets are mostly weaker overnight, led lower once again by winter wheat contracts as harvest continues to ramp up in the Southern Plains and yields are generally better than expected. Soy meal and Minneapolis wheat are showing small gains overnight with the latter facing declining production prospects as heat and dryness grip the Northern Plains. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 526.82 at 26,289.98 and the S&P 500 up 58.15 at 3,066.59 while the 10-Year Treasury yield ended at 0.756%. Early Wednesday, the June DJIA futures are up 148 points. Asian markets are mixed with Japan's Nikkei 225 down 126.45 (-0.56%) and China's Shanghai Composite up 4.12 points (0.14%). European markets are higher with London's FTSE 100 up 25.96 points (0.42%), Germany's DAX up 25.55 points (0.21%) and France's CAC 40 up 16.58 points (0.33%). The September Euro is down 0.003 at 1.130 and the September U.S. dollar index is up 0.182 at 97.115. The September 30-Year T-Bond is down 5/32nds, while August gold is down $15.10 at $1,721.40 and July crude oil is down $0.34 at $38.04. Soybeans on China's Dalian Exchange were up 0.29% while soybean meal was down 0.35%.