DTN Early Word Grains 05/06 05:32

DTN Early Word Grains 05/06 05:32 Risk-Off Trading Hits Grain Prices Early Friday Pre-6 a.m. Globex Prices: July corn was down 9 cents, July soybeans were down 15 1/2 cents and July KC wheat was down 10 1/2 cents. Todd Hultman DTN Lead Analyst Pre-6 a.m. Globex Prices: July corn was down 9 cents, July soybeans were down 15 1/2 cents and July KC wheat was down 10 1/2 cents. CME GLOBEX RECAP: Early Friday, U.S. stocks on the Dow Jones Industrials are on track to add to Thursday's 1,000-point loss with markets in Europe and China also trading lower. This week's half-percent rate hike and plans to reduce the Federal Reserve's balance sheet have investors concerned more will be needed to curb inflation. Most commodities are trading lower early Friday, but crude oil remains higher. The U.S. Labor Department will release April reports for nonfarm payrolls and the unemployment rate at 7:30 a.m. CDT. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average down 1,063.09 at 32,997.97 and the S&P 500 down 153.30 at 4,146.87 as the 10-Year Treasury yield ended at 3.07%, the highest level in three and a half years. Early Friday, June Dow Jones futures are trading down 72 points. Asian markets are mixed with Japan's Nikkei 225 index up 0.69% and China's Shanghai Composite Index down 2.16%. European markets are lower with the spot futures of the London FTSE 100 trading down 0.80%, spot futures of Germany's DAX trading down 0.91% and spot futures of France's CAC Index trading down 0.82%. The June euro is up $0.0037 at $1.0569. The June U.S. Dollar Index is down 0.21 at 103.60. The June 30-year T-bond is down 2/32nds, while June gold is up $4.90 at $1,880.60 and June crude oil is up $1.64 at $109.90. On China's Dalian exchange, September corn was down 0.7%, July soybeans were down 0.8%, September soybean meal was up 0.1% and September soybean oil was down 1.1%. June Malaysian palm oil is trading down 4.5%.