DTN Early Word Grains 05/24 05:51

DTN Early Word Grains 05/24 05:51 Wheat Higher as Weather Challenges Persist July corn was down 1 1/4 cents, July soybeans were up 5 1/2 cents and July KC wheat was up 9 1/2 cents. Todd Hultman DTN Lead Analyst Pre-6 a.m. Globex Prices: July corn was down 1 1/4 cents, July soybeans were up 5 1/2 cents and July KC wheat was up 9 1/2 cents. CME GLOBEX RECAP: Early Tuesday, U.S. stocks on the Dow Jones Industrials are trading lower after manufacturing indices for much of Europe, Japan and Australia showed lower rates of expansion in May. July crude oil is a little lower, but still expensive while the European Union tries to persuade Hungary to approve a ban on imports of Russian oil. U.S. new home sales for April will be released at 9 a.m. CDT. OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average up 618.34 at 31,880.24 and the S&P 500 up 72.39 at 3,973.75 as the 10-Year Treasury yield ended at 2.86%, down from the highest level in three and a half years. Early Tuesday, June Dow Jones futures are trading down 230 points. Asian markets are lower with Japan's Nikkei 225 index down 0.94% and China's Shanghai Composite Index down 2.41%. European markets are lower with the spot futures of the London FTSE 100 trading down 0.48%, spot futures of Germany's DAX trading down 1.03% and spot futures of France's CAC Index trading down 1.53%. The June euro is up $0.0022 at $1.0724. The June U.S. Dollar Index is down 0.08 at 102.02. The June 30-year T-bond is up 27/32nds, while June gold is up $7.70 at $1,855.50 and July crude oil is down $0.39 at $109.90. On China's Dalian exchange, September corn was down 0.8%, July soybeans were down 1.0%, September soybean meal was down 2.0% and September soybean oil was up 0.2%. June Malaysian palm oil is trading up 2.9%.