DTN Early Word Grains 05/02 06:21

DTN Early Word Grains 05/02 06:21 Grains Start New Month Lower July corn is down 9 cents per bushel, July soybeans are down 17 1/2 cents, and July KC wheat is down 10 1/2 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: July corn is down 9 cents per bushel, July soybeans are down 17 1/2 cents, and July KC wheat is down 10 1/2 cents. CME GLOBEX RECAP: Mixed equity markets overnight with Asia choppy, Europe lower and U.S. futures stabilizing from last week's route. The severe selloff in tech stocks helped the Nasdaq to its worst month since 2008. The Federal Reserve will meet this week with expectations the FOMC will vote to increase benchmark interest rates by 50 basis points. That move is so baked into markets at this point, it shouldn't have much of an effect. Energy markets are sharply lower overnight with crude off 2.6% while products are mixed. The U.S. Dollar Index is higher overnight, trading just off the 20-year highs notched last week. Metals are weaker across the board with copper down 2.5%. Grain markets are starting the month of May off on a weaker note with 1.0% losses at most markets. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average down 939.18 at 32,977.21 and the S&P 500 down 155.57 at 4,287.50 while the 10-Year Treasury yield ended at 2.887%. Early Monday, the June DJIA futures are up 176 points. Asian markets are mixed with Japan's Nikkei 225 down 29.37 (-0.11%) and China's Shanghai Composite up 71.58 points (2.41%). European markets are lower with London's FTSE 100 up 35.36 points (0.47%), Germany's DAX down 141.69 points (-1.01%) and France's CAC 40 down 114.61 points (-1.75%). The June Euro is down 0.005 at 1.050 and the June U.S. Dollar Index is up 0.432 at 103.395. The June 30-Year T-Bond is down 17/32nds, while June gold is down $31.90 at $1,879.80 and June crude oil is down $3.10 at $101.59. China's Dalian exchange is closed for national holiday through Wednesday, May 4.