DTN Early Word Grains 06/03 05:48

DTN Early Word Grains 06/03 05:48 Corn, Soybeans Lower on Technical Selling, Wheat Supported by Adverse World Weather July corn is down 1 1/4 cents per bushel, July soybeans are down 10 1/2 cents, July KC wheat is up 8 3/4 cents, July Chicago wheat is up 8 1/4 cents and July Minneapolis wheat is up 8 1/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is down 1 1/4 cents per bushel, July soybeans are down 10 1/2 cents, July KC wheat is up 8 3/4 cents, July Chicago wheat is up 8 1/4 cents and July Minneapolis wheat is up 8 1/4 cents. CME GLOBEX RECAP: World equity markets are mostly higher Monday morning with Europe trying to catch up to a strong rally on Friday in U.S. markets after the PCE data was in line with expectations. The data which showed the PCE up 0.3% caused a relief rally as traders fears about increasing inflation were not borne out by the PCE data. This week's market data include the ISM manufacturing index and construction spending on Monday. Tuesday brings Factory orders and job openings. Wednesday gives U.S. the ISM services index, ADP employment, U.S. Productivity, and the U.S. trade deficit. Thursday is jobless claims and Friday brings U.S. Consumer Credit and the U.S. jobs report. It is a busy week for economic data. In Agriculture this week, in addition to the regular weekly reports, we will get the USDA Fats and Oils report, the Grain Crushing report, and the flour milling report Monday afternoon at 3 p.m. CDT. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 574.84 at 38,686.32 and the S&P 500 up 42.03 at 5,277.51, The 10-Year Treasury yield ended at 4.51%. Early Monday, the June Dow Jones Futures are down 29 points. European markets are higher with the spot futures of London's FTSE 100 trading up 0.21%, spot futures of Germany's DAX is trading up 0.87% and the spot futures of France's CAC 40 Index up 0.36%. Asian markets are mixed with Japan's Nikkei 225 Index up 1.13% and China's Shanghai Composite Index down 0.27%.