DTN Early Word Grains 05/12 05:49

DTN Early Word Grains 05/12 05:49 Grain Markets Mostly Higher Friday Ahead of USDA Supply and Demand Report July contracts of corn, soybeans and wheat are higher Friday morning, ahead of the USDA reports. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is up 1/4 cent per bushel, July soybeans are up 9 1/2 cents, July KC wheat is up 15 1/4 cents, July Chicago wheat is up 7 3/4 cents and July Minneapolis wheat is up 10 3/4 cents. CME GLOBEX RECAP: Equity prices are higher Friday morning, although both the Dow and the S&P 500 are lower for the week. The tech heavy NASDAQ is higher this week as interest rates have fallen on this week's inflation data. Thursday's PPI report provided similar data to the CPI, showing a small slowing in the pace of price increases. This week's initial jobless claims did jump to 264,000, which was 19,000 claims higher than anticipated. The meeting on the debt ceiling that was scheduled for Friday was postponed until next week as Congressional leaders try to figure out how they might find some common ground. In grains, the USDA will release the May Supply and Demand report at 11 a.m. CDT, and this report will provide the first official 2023-2024 balance sheet. OUTSIDE MARKETS: Previous close Thursday showed the Dow Jones Industrial Average down 221.82 at 33,309.51 and the S&P 500 down 7.02 at 4,130.62, The 10-Year Treasury yield ended at 3.40%. Early Friday, the June Dow Jones Futures are up 123 points. European markets are higher with the spot futures of London's FTSE 100 trading up 0.44%, spot futures of Germany's DAX trading up 0.47% and the spot futures of France's CAC 40 Index up 0.87%. Asian markets are mixed with Japan's Nikkei 225 Index up 0.9% and China's Shanghai Composite Index down 1.12%.