DTN Early Word Grains 05/23 05:48

DTN Early Word Grains 05/23 05:48 Grain Markets are Lower Tuesday on Planting Progress, Better HRW Conditions July corn is down 3 cents per bushel, July soybeans are down 10 cents, July KC wheat is down 2 1/4 cents, July Chicago wheat is down 4 cents and July Minneapolis wheat is down 10 1/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is down 3 cents per bushel, July soybeans are down 10 cents, July KC wheat is down 2 1/4 cents, July Chicago wheat is down 4 cents and July Minneapolis wheat is down 10 1/4 cents. CME GLOBEX RECAP: World equity markets are lower Tuesday morning on weak economic data and ongoing concerns about the U.S. debt ceiling. On Monday, House speaker McCarthy met with the President and McCarthy said the meeting was "productive". However, no agreement was reached, and markets are showing skepticism about an agreement. The U.S. one month T-Bills traded at a record yield on debt ceiling worries and on public statements from members of the Federal Reserve that indicated interest rate hikes may not be finished. In the UK, the April PMI fell from 54.9 to 53.9 showing further economic weakness and pressuring European stocks. OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average down 140.05 at 33,286.58 and the S&P 500 up 0.65 at 4,192.63, The 10-Year Treasury yield ended at 3.72%. Early Tuesday, the June Dow Jones Futures are down 50 points. European markets are mixed with the spot futures of London's FTSE 100 trading up 0.08%, spot futures of Germany's DAX is trading down 0.14% and the spot futures of France's CAC 40 Index down 0.78%. Asian markets are lower with Japan's Nikkei 225 Index down 0.42% and China's Shanghai Composite Index down 1.52%.