DTN Early Word Grains 06/20 05:49

DTN Early Word Grains 06/20 05:49 Grain Prices Mostly Lower Tuesday Morning After Stronger Start Monday Evening July corn is up 2 1/4 cents per bushel but December corn is down 4 1/4 cents. July soybeans are up 1 1/4 cents, but November soybeans are down 10 1/2 cents. July KC wheat is down 11 1/4 cents, July Chicago wheat is down 9 1/2 cents and September Minneapolis wheat is down 10 1/2 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is up 2 1/4 cents per bushel but December corn is down 4 1/4 cents. July soybeans are up 1 1/4 cents, but November soybeans are down 10 1/2 cents. July KC wheat is down 11 1/4 cents, July Chicago wheat is down 9 1/2 cents and September Minneapolis wheat is down 10 1/2 cents. CME GLOBEX RECAP: Equity markets are lower in the U.S. after another strong week last week. Secretary of State Blinken met with Chinese leader Xi Jinping on Monday in an effort to deescalate recent tensions between China and the U.S. While no agreements were reached, media reports suggest it was a good meeting that could help pave the way for a meeting between Xi and President Biden sometime later this year. Overnight, China lowered its benchmark lending rates by 10 basis points, with their 1-year rate falling to 3.55%. This is the first time that China has decreased rates since August of last year. New economic data will be light this week, with U.S. Housing Starts released Tuesday morning, home sales and leading economic indicators on Thursday, and the S&P flash PMI's on Friday. Traders will be watching Fed Chair Powell at his testimony before the house on Wednesday. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average down 108.94 at 34,299.12 and the S&P 500 down 16.25 at 4,409.59, The 10-Year Treasury yield ended at 3.77%. Early Tuesday, the September Dow Jones Futures are down 127 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 0.53% and the spot futures of France's CAC 40 Index down 0.32%. Asian markets are mixed with Japan's Nikkei 225 Index up 0.06% and China's Shanghai Composite Index down 0.47%. The September Euro is down 0.002 at 1.098 and the September U.S. Dollar Index is up 0.217 at 102.055. The September 30-Year T-Bond is down 14/32nds, while August gold is down $7.40 at $1,963.80 and August crude oil is up $0.01 at $71.94. On China's Dalian Exchange, September corn was up 0.15% while September soybeans were up 0.18%, September soybean meal was up 1.54% and September Malaysian Palm Oil was trading down 0.8%.