DTN Early Word Grains 04/29 05:45

DTN Early Word Grains 04/29 05:45 Grain Markets Mixed Monday Morning With Wheat Finding Some Profit Taking July corn is steady, July soybeans are up 5 cents, July KC wheat is down 1/4 cent, July Chicago wheat is down 9 1/2 cents and July Minneapolis wheat is up 1/2 cent. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is steady, July soybeans are up 5 cents, July KC wheat is down 1/4 cent, July Chicago wheat is down 9 1/2 cents and July Minneapolis wheat is up 1/2 cent. CME GLOBEX RECAP: World equity markets mixed but mostly higher as U.S. markets are seeing some overnight follow-through from a strong close this past Friday. The PCE data on Friday was a little hotter than anticipated with the year over year number of 2.7% about 0.1% higher than expected. However, strong corporate earnings provided a cushion to the interest rate sentiment. Futures markets are now only predicting one rate cut this year, but equity traders seem to be OK with the higher for longer view of the Fed. The Fed will have their May meeting on Wednesday and the trade is universal in its belief that no rate changes will be made. This is an active week for new economic data. There is no new data on Monday but on Tuesday, we get the Employment Cost Index, S&P Case-Shiller Home Price Index (20 cities), Chicago Business Barometer (PMI), and Consumer Confidence. On Wednesday we get the ADP employment report, Construction Spending, ISM Manufacturing, Job Openings, and Auto Sales. Thursday brings Initial jobless claims, the U.S. trade deficit, U.S. productivity, U.S. unit-labor costs, and factory orders. On Friday we get the important U.S. employment report. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 153.86 at 38,239.66 and the S&P 500 up 51.54 at 5,099.96, The 10-Year Treasury yield ended at 44.98%. Early Monday, the June Dow Jones Futures are up 40 points. European markets are mixed/higher/lower with the spot futures of London's FTSE 100 trading up 0.51%, spot futures of Germany's DAX is trading down 0.14% and the spot futures of France's CAC 40 Index up 0.11%. Asian markets are mixed/higher/lower with Japan's Nikkei 225 Index up 0.81% and China's Shanghai Composite Index up 0.79%.