DTN Early Word Grains 06/12 05:50

DTN Early Word Grains 06/12 05:50 Corn, Soybeans Higher on Hot Extended Forecasts Ahead of Wednesday's USDA Report July corn is up 3 1/4 cents per bushel, July soybeans are up 6 cents, July KC wheat is down 9 cents, July Chicago wheat is down 7 3/4 cents and September Minneapolis wheat is down 5 3/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is up 3 1/4 cents per bushel, July soybeans are up 6 cents, July KC wheat is down 9 cents, July Chicago wheat is down 7 3/4 cents and September Minneapolis wheat is down 5 3/4 cents. CME GLOBEX RECAP: World equity markets are mixed on Wednesday ahead of two very important U.S. events. First, the CPI data will be released at 7:30 Wednesday morning which could influence the Federal Reserve's future decisions for the timing of the 1st interest rate cut. The second event is the release of the decision of the Federal Reserve, along with a new "dot-plot" that will provide a new road map for the potential timing of future interest rate cuts. Along with that release will come a press conference by Chairman Powell, the tone of which will be watched closely for clues about future interest rate policy. Traders are not expecting any interest rate changes Wednesday, and instead are going to be focused on the dot-plot and the Chairman's comments. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 120.62 at 38,747.42 and the S&P 500 up 14.53 at 5,375.32, The 10-Year Treasury yield ended at 4.40%. Early Wednesday, the June Dow Jones Futures are up 31 points. European markets are higher with the spot futures of London's FTSE 100 trading up 0.73%, spot futures of Germany's DAX is trading up 0.48% and the spot futures of France's CAC 40 Index up 0.35%. Asian markets are mixed with Japan's Nikkei 225 Index down 0.66% and China's Shanghai Composite Index up 0.31%.