DTN Early Word Grains 05/31 06:07

DTN Early Word Grains 05/31 06:07 Soybeans, Crude Oil Trading Higher as Wheat Prices Fall Pre-6 a.m. Globex Prices: July corn was down 2 1/2 cents, July soybeans were up 11 1/2 cents and July KC wheat was down 28 cents. Todd Hultman DTN Lead Analyst PRE-6 a.m. GLOBEX PRICES: July corn was down 2 1/2 cents, July soybeans were up 11 1/2 cents and July KC wheat was down 28 cents. CME GlOBEX RECAP: Early Tuesday, U.S. stocks on the Dow Jones Industrials are trading lower, along with most European stocks as the West continues to struggle against rising oil prices. According to media sources, the European Union reached a compromise to effectively ban somewhere between 67% and 90% of Russian oil imports by the end of the year. July crude oil is trading near $119 a barrel, also supported by news that the lockdown in Shanghai would end Wednesday. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 575.77 at 33,212.96 and the S&P 500 up 100.40 at 4,158.24 as the 10-Year Treasury yield ended at 2.74%, down from the highest level in three and a half years. Early Tuesday, June Dow Jones futures are trading down 187 points. Asian markets are mixed with Japan's Nikkei 225 index down 0.33% and China's Shanghai Composite Index up 1.19%. European markets are mostly lower with the spot futures of the London FTSE 100 trading up 0.47%, spot futures of Germany's DAX trading down 0.49% and spot futures of France's CAC Index trading down 0.59%. The June euro is down $0.0002 at $1.0737. The June U.S. Dollar Index is up 0.46 at 101.77. The June 30-year T-bond is down 1 14/32nds, while June gold is down $0.30 at $1,851.0 and July crude oil is up $3.88 at $118.95. On China's Dalian exchange, September corn was up 0.1%, July soybeans were up 0.1%, September soybean meal was up 0.4% and September soybean oil was up 0.2%. June Malaysian palm oil is trading up 1.1%.