DTN Early Word Grains 06/18 06:02

DTN Early Word Grains 06/18 06:02 Grains Rally on China Rumors, Weather July corn is up 3 cents per bushel, July soybeans are up 3 cents, and July KC wheat is up 4 1/4 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: July corn is up 3 cents per bushel, July soybeans are up 3 cents, and July KC wheat is up 4 1/4 cents. CME Globex Recap: Quiet financial markets overnight with equity trade around the globe slightly firmer, currencies mixed, fixed income a bit higher and energy markets posting modest gains. Financial media picked up on U.S. Trade Representative Robert Lighthizer's testimony to House Ways and Means Committee on Wednesday which suggested the potential for new trade tensions before the November election. Very little headway has been made with the European Union on trade, phase-two talks with Japan start in a "couple of months" and the trade situation with China is ongoing. Grain markets are higher overnight, led by corn and Minneapolis wheat with the latter just two cents from making two-month highs. Weather in the Northern Plains remains problematic for finishing spring wheat while demand for higher protein blending stock could rise significantly in 2020/21. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average down 170.37 at 26,119.61 and the S&P 500 down 11.25 at 3,124.74 while the 10-Year Treasury yield ended at 0.733%. Early Thursday, the June DJIA futures are up 26 points. Asian markets are mixed with Japan's Nikkei 225 down 100.3 (-0.45%) and China's Shanghai Composite up 3.44 points (0.12%). European markets are higher with London's FTSE 100 up 14.94 points (0.24%), Germany's DAX up 8.75 points (0.07%) and France's CAC 40 up 5.05 points (0.1%). The September Euro is up 0.003 at 1.130 and the September U.S. dollar index is down 0.134 at 97.010. The September 30-Year T-Bond is up 14/32nds, while August gold is up $5.50 at $1,741.10 and July crude oil is up $0.20 at $38.16. Soybeans on China's Dalian Exchange were up 0.83% while soybean meal was up 0.32%.