DTN Early Word Grains 06/13 05:50

DTN Early Word Grains 06/13 05:50 Corn and Wheat Higher, Soybeans Lower in Aftermath of USDA Reports July corn is up 3 cents per bushel, July soybeans are down 1 3/4 cents, July KC wheat is down 1 cent, July Chicago wheat is up 4 cents and September Minneapolis wheat is up 4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is up 3 cents per bushel, July soybeans are down 1 3/4 cents, July KC wheat is down 1 cent, July Chicago wheat is up 4 cents and September Minneapolis wheat is up 4 cents. CME GLOBEX RECAP: World equity markets are mixed but mostly lower Thursday morning after Wednesday's somewhat dovish CPI numbers that were offset by a slightly more hawkish Federal Reserve dot plot. The CPI data was about 0.1% lower than anticipated in all categories, which resulted in a large break in interest rates ahead of the Federal Reserve decision. The Fed then left interest rates unchanged which was expected, but the dot-plot shifted, predicting only one rate cut in 2024, down from three rate cuts on the last dot-plot. This caused a surge in interest rates, but those rates retreated, and the 10-Year Treasury Yield still closed lower at 4.29%. The equity markets closed mixed, with the Dow giving up its gains but the S&P 500 posting a new record close for the fourth consecutive session. The tone of Fed Chairman Powell's post meeting comments led traders to believe that they remain data-dependent, and that further "better than expected" inflation readings could still result in rate cuts this year. Thursday morning, we will get the PPI data which traders will look at closely for discrepancies with the strong CPI data. OUTSIDE MARKETS: Previous close Wednesday showed the Dow Jones Industrial Average down 35.21 at 38,712.21 and the S&P 500 up 45.71 at 5,421.03, The 10-Year Treasury Yield ended at 4.295%. Early Thursday, the June Dow Jones Futures are down 130 points. European markets are lower with the spot futures of London's FTSE 100 trading down 0.75%, spot futures of Germany's DAX is trading down 1.33% and the spot futures of France's CAC 40 Index down 1.31%. Asian markets are lower with Japan's Nikkei 225 Index down 0.4% and China's Shanghai Composite Index down 0.28%.