DTN Early Word Grains 05/25 05:41

DTN Early Word Grains 05/25 05:41 Grain Markets Mixed Ahead of Weekly Export Sales July corn is up 1 1/2 cents per bushel, July soybeans are down 2 3/4 cents, July KC wheat is down 5 1/4 cents, July Chicago wheat is down 1 cent and July Minneapolis wheat is down 1 1/2 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is up 1 1/2 cents per bushel, July soybeans are down 2 3/4 cents, July KC wheat is down 5 1/4 cents, July Chicago wheat is down 1 cent and July Minneapolis wheat is down 1 1/2 cents. CME GLOBEX RECAP: World equity markets continue to be nervous about the state of the negotiations on the U.S. debt ceiling. There continue to be talks between the two sides, but little new common ground has been reached. Overnight, Germany released their 1st quarter GDP estimate which showed a contraction of 0.3%, putting the German economy officially into a recession. U.S. economic indicators continue to be mixed but the tone of comments from the members of the Federal Reserve this week have turned more hawkish and interest rates have been rising. This has caused the value of the U.S. dollar to push higher despite the threat of a default on U.S. Government Debt. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 255.59 at 32,799.92 and the S&P 500 down 30.34 at 4,115.24, The 10-Year Treasury yield ended at 3.72%. Early Thursday, the June Dow Jones Futures are down 49 points. European markets are mixed with the spot futures of London's FTSE 100 steady, spot futures of Germany's DAX trading up 0.06% and the spot futures of France's CAC 40 Index down 0.14%. Asian markets are mixed with Japan's Nikkei 225 Index up 0.39% and China's Shanghai Composite Index down 0.11%.