DTN Early Word Grains 05/31 07:00

DTN Early Word Grains 05/31 07:00 Grains Higher, Bouncing After Two Poor Sessions July corn is up 2 3/4 cents per bushel, July soybeans are up 10 1/2 cents, July KC wheat is up 9 1/4 cents, July Chicago wheat is up 6 1/2 cents and July Minneapolis wheat is up 8 1/2 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is up 2 3/4 cents per bushel, July soybeans are up 10 1/2 cents, July KC wheat is up 9 1/4 cents, July Chicago wheat is up 6 1/2 cents and July Minneapolis wheat is up 8 1/2 cents. CME GLOBEX RECAP: World equity markets are mixed, with U.S. markets lower once again in what is turning out to be a very poor week for U.S. equity markets. Traders are concerned that Friday's release of the PCE data will give the Fed more data to confirm their "higher for longer" bias and that has triggered a major correction in equity prices, that had previously been supported due to the previous belief that interest rate cuts were going to come sooner and more frequently. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average down 330.06 at 38,111.48 and the S&P 500 down 31.47 at 5,235.48, The 10-Year Treasury yield ended at 4.554%. Early Friday, the June Dow Jones Futures are down 62 points. European markets are mixed with the spot futures of London's FTSE 100 trading up 0.17%, spot futures of Germany's DAX is trading down 0.35% and the spot futures of France's CAC 40 Index down 0.17%. Asian markets are mixed with Japan's Nikkei 225 Index up 1.14% and China's Shanghai Composite Index down 0.16%.