DTN Early Word Grains 05/24 05:49

DTN Early Word Grains 05/24 05:49 Grain Markets Higher on Weather Worries, Lower IGC Carryout Forecast July corn is up 1 1/4 cents per bushel, July soybeans are up 1 1/4 cents, July KC wheat is up 7 1/4 cents, July Chicago wheat is up 1/4 cent and July Minneapolis wheat is up 5 1/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is up 1 1/4 cents per bushel, July soybeans are up 1 1/4 cents, July KC wheat is up 7 1/4 cents, July Chicago wheat is up 1/4 cent and July Minneapolis wheat is up 5 1/4 cents. CME GLOBEX RECAP: World equity markets are mostly lower as Thursday's economic data was strong which caused interest rates to rise and equity prices to fall sharply. The S&P manufacturing PMI was 52.4, which compared to pre-report estimates of 50.0. The services PMI was 54.8 compared to pre-report estimates of 51.6. This data suggested a strong economy and a "higher for longer" attitude from the Federal Reserve which had equity traders selling stocks. The Dow was down over 600 points for the worst session since late February of 2023. Friday morning brings reports on Durable Goods and Consumer sentiment. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average down 605.78 at 39,065.26 and the S&P 500 down 39.17 at 5,267.84, The 10-Year Treasury yield ended at 4.475%. Early Friday, the June Dow Jones Futures are up 55 points. European markets are lower with the spot futures of London's FTSE 100 trading down 0.45%, spot futures of Germany's DAX is trading down 0.37% and the spot futures of France's CAC 40 Index down 0.17%. Asian markets are lower with Japan's Nikkei 225 Index down 1.17% and China's Shanghai Composite Index down 0.88%.