DTN Early Word Grains 05/18 05:54

DTN Early Word Grains 05/18 05:54 Soybeans Get Real July corn was 7 cents lower, July soybeans were 20 cents lower, and July Kansas City (HRW) wheat was 4 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 7 cents lower, July soybeans were 20 cents lower, and July Kansas City (HRW) wheat was 4 cents lower. CME Globex Recap: Wednesday's overnight session into Thursday morning once again highlights why Black Swans aren't predictable. The news surrounding Brazil's President Temer, embroiled in a payment scandal, sent the real reeling overnight and sparked a strong sell-off in Chicago soybeans. The rest of the grain complex, commodities in general, followed suit as ripple effects quickly spread. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 372.82 points (1.8%) lower at 20,606.93, the NASDAQ Composite fell 158.63 points (2.6%) to 6,011.24, and the S&P 500 lost 43.64 points (1.8%) to 2,357.03 Wednesday. DJIA futures were 87 points lower again early Thursday morning. Asian markets closed lower with Japan's Nikkei down 261.02 points (1.3%), Hong Kong's Hang Seng off 157.11 points (0.6%), and China's Shanghai Composite losing 14.30 points (0.5%). European markets were trading lower with London's FTSE 100 off 109.44 points (1.5%), Germany's DAX down 129.26 points (1.0%), and France's CAC 40 losing 68.77 points (1.3%). The euro was 0.0038 lower at 1.1121 while the U.S. dollar index gained 0.19 to 97.58. June 30-year T-Bonds were 12/32 higher at 154'05 while June gold added $2.20 to $1,260.90. Crude oil was $0.95 lower at $48.12 while Brent crude lost $0.99 to $51.21. China's Dalian soybean futures and Malaysian palm oil futures were both mostly lower overnight.