DTN Early Word Grains 06/02 07:31

DTN Early Word Grains 06/02 07:31 Crop Prices Higher, Crude Oil Lower Early Thursday July corn was up 2 1/2 cents, July soybeans were up 9 cents and July KC wheat was up 15 cents. Todd Hultman DTN Lead Analyst PRE-6 a.m. GLOBEX PRICES: July corn was up 2 1/2 cents, July soybeans were up 9 cents and July KC wheat was up 15 cents. CME GLOBEX RECAP: Early Thursday, U.S. stocks on the Dow Jones Industrials are trading a little higher with stocks mixed in Europe and Asia. July crude oil has backed down and is trading near $112 a barrel after the Financial Times reported Saudi Arabia is willing to help make up for any drop in Russia's oil production. OPEC meets Thursday and is expected to announce another modest monthly increase in production. Russia's offer to allow grain exports out of Ukraine continues to be a topic of negotiation, but no agreement has been reached yet. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 176.89 at 32,813.23 and the S&P 500 down 30.92 at 4,102.23 as the 10-Year Treasury yield ended at 2.93%, near the highest level in three and a half years. Early Thursday, June Dow Jones futures are trading up 133 points. Asian markets are mixed with Japan's Nikkei 225 index down 0.16% and China's Shanghai Composite Index up 0.42%. European markets are mixed with the spot futures of the London FTSE 100 trading down 0.76%, spot futures of Germany's DAX trading up 0.77% and spot futures of France's CAC Index trading up 0.95%. The June euro is up $0.0027 at $1.0688. The June U.S. Dollar Index is down 0.24 at 102.29. The June 30-year T-bond is up 5/32nds, while June gold is up $6.50 at $1,855.20 and July crude oil is down $3.16 at $112.10. On China's Dalian exchange, September corn was down 0.7%, July soybeans were down 0.0%, September soybean meal was down 0.2% and September soybean oil was up 0.3%. June Malaysian palm oil is trading up 2.4%.