DTN Early Word Grains 06/29 06:03

DTN Early Word Grains 06/29 06:03 Grains Mixed as Reports, Forecasts Loom July corn is up 2 3/4 cents per bushel, July soybeans are down 3 1/4 cents, and September KC wheat is down 1 cent. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: July corn is up 2 3/4 cents per bushel, July soybeans are down 3 1/4 cents, and September KC wheat is down 1 cent. CME Globex Recap: Equity markets have traded mixed overnight with losses in Asia while gains were present in Europe with U.S. futures pointed at a higher open Monday morning. There seems to be little more to talk about in financial media than the rising coronavirus cases in the United States with expectations for further tightening of lockdown measures in coming days. While the cases continue to climb in the U.S., hospitalizations and deaths related to COVID-19 remain down, preventing the healthcare system from being overwhelmed. This could be a key driver of why equities haven't reacted in a more negative manner the last few days. Energy markets are weaker with short-term trends beginning tip lower in crude oil and especially RBOB gasoline futures. Precious metals are mixed with gold slightly higher while silver posts losses. Grain markets are also mixed overnight with corn and Chicago wheat higher while all other contracts are lower in what should prove to be a critical week for ag markets. Midwest weather will take on added importance each week forward through the end of July and the USDA will update data sets which will help set the tone for supply in 2020/21. Funds are carrying sizable net shorts in corn and wheat headed into this week's reports. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 730.05 at 25,015.55 and the S&P 500 down 74.71 at 3,083.76 while the 10-Year Treasury yield ended at 0.636%. Early Monday, the September DJIA futures are up 83 points. Asian markets are lower with Japan's Nikkei 225 down 517.04 (-2.3%) and China's Shanghai Composite down 18.03 points (-0.61%). European markets are mixed with London's FTSE 100 up 10.78 points (0.18%), Germany's DAX up 45.63 points (0.38%) and France's CAC 40 down 11.21 points (-0.07%). The September Euro is up 0.003 at 1.130 and the September U.S. dollar index is down 0.114 at 97.290. The September 30-Year T-Bond is down 3/32nds, while August gold is up $1.70 at $1,782.00 and August crude oil is down $0.40 at $38.09. Soybeans on China's Dalian Exchange were up 2.13% while soybean meal was down 0.46%.