DTN Early Word Grains 04/28 06:06

DTN Early Word Grains 04/28 06:06 Grain Markets Mixed After Thursday's Meltdown in Corn Futures July corn is down 1 1/4 cents per bushel, July soybeans are up 6 3/4 cents, and July KC wheat is up 3 3/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is down 1 1/4 cents per bushel, July soybeans are up 6 3/4 cents, and July KC wheat is up 3 3/4 cents. CME GLOBEX RECAP: Equity prices surged on Thursday led by the continued strong earnings from the tech sector. Meta, Alphabet, and Microsoft all have beaten earnings estimates significantly. After such a strong session, futures are lower Friday morning in anticipation of the PCE index numbers which will be released Friday morning. Some of the economic data released on Thursday was weaker than anticipated, including 1st quarter GDP which was up 1.1% compared to trade expectations of 2%, and pending home sales which were down 5.2% compared to expectations of an increase of 0.5%. Despite those weaker datapoints, interest rates rallied Thursday with the 10-year rising to 3.52%. The market is still expecting a 1/4-point interest rate hike at the next Federal Reserve meeting. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average up 524.29 at 33,826.16 and the S&P 500 Index up 79.36 at 4,135.35. The 10-Year Treasury yield ended at 3.53%. Early Friday, June Dow Jones futures are down 115 points. European markets are lower with the spot futures of the London FTSE 100 trading down 0.22%, spot futures of Germany's DAX trading down 0.18% and spot futures of France's CAC Index trading down 0.61%. Asian markets are higher with Japan's Nikkei 225 index up 1.40% and China's Shanghai Composite Index up 0.11%.