DTN Early Word Grains 05/12 05:53

DTN Early Word Grains 05/12 05:53 Grains Mostly Lower, Swayed by Outside Markets on USDA Report Day July corn was down 3 1/2 cents, July soybeans were down 13 1/2 cents and July KC wheat was down 4 cents. Todd Hultman DTN Lead Analyst Pre-6 a.m. Globex Prices: July corn was down 3 1/2 cents, July soybeans were down 13 1/2 cents and July KC wheat was down 4 cents. CME GLOBEX RECAP: Early Thursday, U.S. stocks on the Dow Jones Industrials are trading lower, in line with losses in Europe and Japan. Inflation and the Federal Reserve's hawkish stance remain a concern for stock market investors and has also triggered widespread selling in cryptocurrencies. According to the Wall Street Journal, Disney joined the list of recent earnings disappointments, hurt by COVID infections in China. At 7:30 a.m. CDT, USDA's weekly export sales report will be released along with weekly U.S. jobless claims and a report on U.S. producer prices in April. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 326.63 at 31,834.11 and the S&P 500 down 65.87 at 3,935.18 as the 10-Year Treasury yield ended at 2.92%, down from the highest level in three and a half years. Early Thursday, June Dow Jones futures are trading down 196 points. Asian markets are lower with Japan's Nikkei 225 index down 1.77% and China's Shanghai Composite Index down 0.12%. European markets are lower with the spot futures of the London FTSE 100 trading down 2.16%, spot futures of Germany's DAX trading down 2.22% and spot futures of France's CAC Index trading down 2.38%. The June euro is down $0.0102 at $1.0444. The June U.S. Dollar Index is up 0.61 at 104.48. The June 30-year T-bond is up 1 8/32nds, while June gold is down $4.20 at $1,849.50 and June crude oil is down $2.37 at $103.34. On China's Dalian exchange, September corn was up 0.1%, July soybeans were up 0.8%, September soybean meal was up 0.4% and September soybean oil was up 1.3%. June Malaysian palm oil is trading down 2.0%.