DTN Early Word Grains 05/04 06:08

DTN Early Word Grains 05/04 06:08 Corn and Soybeans Firmer, Wheat Higher Early on Wednesday July corn is up 2 1/2 cents, July soybeans are up 3 1/2 cents, and July KC wheat is up 8 1/2 cents. Dana Mantini Senior Market Analyst Pre-6 a.m. Globex Prices: July corn is up 2 1/2 cents, July soybeans are up 3 1/2 cents, and July KC wheat is up 8 1/2 cents. CME GLOBEX RECAP: Early on Wednesday, Dow Jones futures are higher with European markets lower and Asian markets mixed. The bond market is higher. The ongoing war in Ukraine along with weather issues continue to be the focal point in grain and soy markets. The radar screen is fairly quiet to begin the day Wednesday, but the balance of the week remains an active pattern with a warmer and drier outlook next week, which could accelerate the late planting pace. It remains too cool and too wet in the Northern Plains and Upper Midwest. Crude oil is up nearly $4 per barrel early, with the dollar lower and equities markets slightly higher ahead of what should be a Federal Reserve decision to raise the benchmark interest rate by 50 basis points. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average up 67.29 at 33,128.79 and the S&P 500 up 20.10 at 4,175.48 while the 10-Year Treasury yield ended lower at 2.96%. Early Wednesday, the June DJIA futures are up 110 points. Asian markets are mixed with Japan's Nikkei down 29.37 (- 0.11%) and China's Shanghai Composite closed due to holiday. European markets are lower, with London's FTSE 100 down 38.23 points (-0.51%), Germany's DAX down 42.31 points (-0.45%) and France's CAC 40 down 42.31 points (-0.31%). The June Euro is at 1.05, and the June U.S. Dollar Index is down .026 at 103.47. The June 30-Year T-Bond is up 3/32nds, while June gold is up .50 at $1871.10 and June crude oil is up 3.52 cents at $105.92. China's Dalian Exchange is closed for holiday.