DTN Early Word Grains 06/22 06:02

DTN Early Word Grains 06/22 06:02 Grains Start Weaker on Weather Forecasts July corn is down 3/4 cent per bushel, July soybeans are down 1/2 cent, and September KC wheat is down 1/2 cent. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: July corn is down 3/4 cent per bushel, July soybeans are down 1/2 cent, and September KC wheat is down 1/2 cent. CME Globex Recap: Global equities are mostly higher around the globe overnight, shaking losses in Asia and early weakness in Europe to trade higher and rally U.S. futures. Rising coronavirus cases globally continue to give investors pause, but the massive stimulus efforts seem to be counteracting the negative sentiment currently. Energy markets are lightly mixed overnight as crude oil becomes sticky around the $40.00 per barrel mark. Gold and silver are both higher with the latter up over 1.0% in the overnight session. Grains are weaker across the board, starting the week on a softer note following a strong performance last week. Areas of the Midwest in need of moisture are becoming more apparent with weather models promising relief in the coming two weeks. The trade will begin the ramp up to the June acreage and June 1 stocks reports next week which should prove to be market moving events. Funds appear comfortable in their short positions at the moment but that sentiment is known to change quickly this time of year. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 208.64 at 25,871.46 and the S&P 500 down 17.60 at 3,115.34 while the 10-Year Treasury yield ended at 0.697%. Early Monday, the September DJIA futures are up 260 points. Asian markets are lower with Japan's Nikkei 225 down 41.52 (-0.18%) and China's Shanghai Composite down 2.36 points (-0.08%). European markets are higher with London's FTSE 100 up 8.58 points (0.14%), Germany's DAX up 40.41 points (0.33%) and France's CAC 40 up 17.54 points (0.35%). The September Euro is up 0.003 at 1.120 and the September U.S. dollar index is down 0.267 at 97.310. The September 30-Year T-Bond is up 4/32nds, while August gold is up $7.50 at $1,760.50 and August crude oil is up $0.11 at $39.94. Soybeans on China's Dalian Exchange were down 1.36% while soybean meal was up 0.71%.