DTN Early Word Grains 05/24 05:55

DTN Early Word Grains 05/24 05:55 Grains Lower with Rain Anticipated July corn is down 11 1/4 cents, July soybeans are down 11 3/4 cents and July KC wheat is down 14 cents. Todd Hultman DTN Lead Analyst Pre-6 a.m. Globex Prices: July corn is down 11 1/4 cents, July soybeans are down 11 3/4 cents and July KC wheat is down 14 cents. CME Globex Recap: Early Friday, Dow Jones futures are trading higher in line with overseas markets and also giving a lift to futures prices outside the grain sector. On Friday, the National Association of Realtors said U.S. existing home sales were down 2.7% in April as the median price increased to $341,600, the highest on record. On Sunday, the Associated Press reported new cases of coronavirus in the U.S. dropped to the lowest levels since June. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 123.69 at 34,207.84 and the S&P 500 down 3.26 at 4,155.86 while the 10-Year Treasury yield ended at 1.63%. Early Monday, June Dow Jones futures are trading up 137 points. Asian markets are a little higher with Japan's Nikkei 225 index up 0.17% and China's Shanghai Composite Index up 0.31%. European markets are higher with the spot futures of the London FTSE 100 trading up 0.31%, spot futures of Germany's DAX trading up 0.58% and spot futures of France's CAC Index trading up 0.31%. The June euro is up $0.0021 at $1.2208. The June U.S. Dollar Index is down 0.07 at 89.94. The June 30-year T-bond is up 8/32nds, while August gold is up $3.20 at $1,879.90 and July crude oil is up $1.21 at $64.79. On China's Dalian exchange, September corn was down 0.9%, July soybeans were down 1.4%, September soybean meal was down 0.6% and September soybean oil was down 2.2%. July common wheat on China's Zhengzhou exchange was unchanged. August Malaysian palm oil is trading down 2.6%.