DTN Early Word Grains 05/17 05:30

DTN Early Word Grains 05/17 05:30 Wheat Prices Starting Higher as Wheat Tour Confirms Extensive Problems December corn is up 1 cent, November soybeans are down 5 cents and July KC wheat is up 15 cents. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is up 1 cent, November soybeans are down 5 cents and July KC wheat is up 15 cents. CME GLOBEX RECAP: Early Wednesday, U.S. stock futures are starting higher, coming off Tuesday's lower performance as traders continue to watch for some resolution of the standoff over raising the debt ceiling. A report on U.S. housing starts in April is set for 7:30 a.m. CDT Wednesday, followed by the U.S. Energy Department's weekly inventory report at 9:30 a.m. Wednesday's earnings reports include Target. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 336.46 at 33,012.14 and the S&P 500 Index down 26.38 at 4,109.90. The 10-Year Treasury yield ended at 3.55%. Early Wednesday, June Dow Jones futures are up 107 points. European markets are mixed with the spot futures of the London FTSE 100 trading up 0.05%, spot futures of Germany's DAX trading up 0.21% and spot futures of France's CAC Index trading down 0.03%. Asian markets are mixed with Japan's Nikkei 225 index up 0.84% and China's Shanghai Composite Index down 0.21%. According to RTTNews.com, Japan's GDP was up 1.6% in the first quarter from a year ago, more than expected.