DTN Early Word Grains 06/10 05:48

DTN Early Word Grains 06/10 05:48 Grains Markets Mixed With Focus on Weather, Further Wheat Declines July corn is up 2 1/4 cents per bushel, July soybeans are up 2 cents, July KC wheat is down 9 3/4 cents, July Chicago wheat is down 3 1/2 cents and July Minneapolis wheat is down 3 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is up 2 1/4 cents per bushel, July soybeans are up 2 cents, July KC wheat is down 9 3/4 cents, July Chicago wheat is down 3 1/2 cents and July Minneapolis wheat is down 3 cents. CME GLOBEX RECAP: U.S. and European markets are lower as traders assess the prospects of several inflation-reports that will be released this week, and the upcoming meeting of the Federal Reserve. European markets seem to be concerned about the outcome of several elections this weekend. Interest rates jumped sharply on Friday as the U.S. Jobs report was considerably stronger than trade expectations. This makes it very unlikely that any rate cuts will come from this meeting, and once again market participants will be trying to parse the comments from Federal Reserve chairman Powell to get a clue when the first rate-cut might occur. The major economic reports this week include the CPI data that will be released on Wednesday along with the Federal Budget Deficit, Initial Jobless Claims and PPI data that will be released on Thursday, and the Import Price Index that will come out on Friday. The Federal Reserve meeting begins on Tuesday with any decisions to be released on Wednesday, followed by a press conference from Chairman Powell. In Agriculture, in addition to the regular weekly reports, we will get the USDA June Supply and Demand report on Wednesday at 11:00 a.m. CDT. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average down 87.18 at 38,798.99 and the S&P 500 down 5.97 at 5,346.99, The 10-Year Treasury yield ended at 4.430%. Early Monday, the June Dow Jones Futures are down 107 points. European markets are lower with the spot futures of London's FTSE 100 trading down 0.51%, spot futures of Germany's DAX is trading down 0.86% and the spot futures of France's CAC 40 Index down 2.05%. Asian markets are higher with Japan's Nikkei 225 Index up 0.92% and China's Shanghai Composite Index up 0.08%.