DTN Early Word Grains 06/23 05:59

DTN Early Word Grains 06/23 05:59 Grains Weaker But Off Session Lows July corn is down 2 1/2 cents per bushel, July soybeans are down 1 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 2 1/2 cents per bushel, July soybeans are down 1 cent, and September KC wheat is down 1/2 cent. CME Globex Recap: Equities and stock futures are higher around the globe overnight as financials maintain their uptrends dating back to the March lows. Early Monday evening, Reuters among others carried quotes from White House trade advisor Peter Navarro who said the trade deal with China was "over" due to their handling of the coronavirus outbreak. The White House tried to walk back those comments after markets reacted swiftly, leaving investors to wonder what should be believed. Grain markets are still carrying losses but have recovered well off session lows. Adding to grain market weakness was a more favorable run of weather models that seems to suggest most in the Midwest will see moisture the next two weeks before warmer temperatures move in with the change in calendar. Energy markets are higher with spot crude oil futures solidly above the $40.00 per barrel mark as the front-month contract rolled to August. The U.S. Dollar Index is weaker and back below the 97-handle mark. OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average up 153.50 at 26,024.96 and the S&P 500 up 20.12 at 3,097.74 while the 10-Year Treasury yield ended at 0.704%. Early Tuesday, the September DJIA futures are up 198 points. Asian markets are higher with Japan's Nikkei 225 up 111.78 (0.5%) and China's Shanghai Composite up 5.35 points (0.18%). European markets are higher with London's FTSE 100 up 50.27 points (0.81%), Germany's DAX up 237.07 points (1.94%) and France's CAC 40 up 61.63 points (1.25%). The September Euro is up 0.003 at 1.130 and the September U.S. dollar index is down 0.125 at 96.860. The September 30-Year T-Bond is down 9/32nds, while August gold is up $3.70 at $1,770.10 and August crude oil is up $0.52 at $41.25. Soybeans on China's Dalian Exchange were down 0.9% while soybean meal was up 0.28%.