DTN Early Word Grains 06/19 06:00

DTN Early Word Grains 06/19 06:00 Grains Higher on Technicals, Dryness in Eastern Corn Belt July corn is up 2 cents per bushel, July soybeans are up 3 3/4 cents, and July KC wheat is up 1 3/4 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: July corn is up 2 cents per bushel, July soybeans are up 3 3/4 cents, and July KC wheat is up 1 3/4 cents. CME Globex Recap: Global equities are higher around the globe overnight with U.S. futures pointed at a higher open. This week has been characterized by a battle between bears worried about a flair up in coronavirus cases and bulls citing improved economic data and a further expansion of the economy re-opening. Energy markets are higher overnight with spot WTI prices trying to reclaim the $40.00 per barrel mark which it saw overnight. RBOB Gasoline prices are higher overnight trading at the highest levels since March 6 as the American consumer slowly returns. Currencies are mostly quiet overnight with major players inside recent ranges. Precious metals are higher overnight with range-bound trade present in gold while silver is still pointed lower after making 9-month highs at the beginning of the month. Grains are mostly higher with the exception of Minneapolis wheat and meal with the former having led gains most of the week. Corn and soybeans have had a good week of trade, and with a little additional strength out of corn, could squeeze additional short positions held by managed funds into covering. Soybean charts look impressive. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average down 39.51 at 26,080.10 and the S&P 500 up 1.85 at 3,113.49 while the 10-Year Treasury yield ended at 0.694%. Early Friday, the September DJIA futures are up 255 points. Asian markets are higher with Japan's Nikkei 225 up 123.33 (0.55%) and China's Shanghai Composite up 28.32 points (0.96%). European markets are higher with London's FTSE 100 up 51.12 points (0.82%), Germany's DAX up 93.94 points (0.76%) and France's CAC 40 up 41.53 points (0.84%). The September Euro is up 0.001 at 1.120 and the September U.S. dollar index is down 0.010 at 97.390. The September 30-Year T-Bond is down 23/32nds, while August gold is up $6.40 at $1,737.50 and July crude oil is up $1.07 at $39.91. Soybeans on China's Dalian Exchange were up 0.5% while soybean meal was down 0.18%.