DTN Early Word Grains 06/25 06:00

DTN Early Word Grains 06/25 06:00 Grains Lower with Focus on Weather, Outsides July corn is down 1/4 cent per bushel, July soybeans are up 1/2 cent, and September KC wheat is up 3/4 cent. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: July corn is down 1/4 cent per bushel, July soybeans are up 1/2 cent, and September KC wheat is up 3/4 cent. CME Globex Recap: Global equity markets are quietly mixed even as financial media focus on the surging coronavirus cases in the United States. On Wednesday, a record one-day surge in cases of 38,672 was recorded, largely in states which have opened fully in the last several weeks. Pundits suggest this could slow or even reverse planned openings, stalling economic activity just as things appeared to be getting on the right track. If cases rise and economic activity remains stalled, another round of stimulus money would seem a certainty, which could underpin stocks even further. Energy markets are weaker while precious metals are mixed to weaker. Grains are mostly weaker overnight, although winter wheat contracts are clinging to some small gains. Ag markets are tied tightly to the weather forecast, reacting to small changes between model runs. Export sales later Thursday morning will help set the tone with pre-report positioning still taking place ahead of the June 30 USDA reports. There still seems to be a large amount of farmer-owned grain needing to be priced both in commercial hands and still on the farm. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average down 710.16 at 25,445.94 and the S&P 500 down 80.96 at 3,131.29 while the 10-Year Treasury yield ended at 0.684%. Early Thursday, the September DJIA futures are up 10 points. Asian markets are mixed with Japan's Nikkei 225 down 274.53 (-1.22%). European markets are higher with London's FTSE 100 up 4.61 points (0.08%), Germany's DAX up 113.67 points (0.94%) and France's CAC 40 up 14.92 points (0.31%). The September Euro is down 0.003 at 1.130 and the September U.S. dollar index is up 0.176 at 97.305. The September 30-Year T-Bond is up 13/32nds, while August gold is down $4.60 at $1,770.50 and August crude oil is down $0.00 at $38.01. China's Dalian Exchange was closed.