DTN Early Word Grains 06/07 05:52

DTN Early Word Grains 06/07 05:52 Crop Prices Pull Back Early Tuesday July corn was down 6 cents, July soybeans were down 2 cents and July KC wheat was down 8 1/2 cents. Todd Hultman DTN Lead Analyst PRE-6 a.m. GLOBEX PRICES: July corn was down 6 cents, July soybeans were down 2 cents and July KC wheat was down 8 1/2 cents. CME GLOBEX RECAP: Early Tuesday, U.S. stocks on the Dow Jones Industrials are trading modestly lower, in line with a similar performance in Europe. According to the Wall Street Journal, investors were a little spooked after the Reserve Bank of Australia raised its key policy rate by 0.50%, more than expected. Later Tuesday morning, the U.S. Census Bureau will release information on the U.S. trade deficit for April and on Friday the Labor Department will report on the consumer price index. OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average up 16.08 at 32,915.78 and the S&P 500 up 12.89 at 4,121.43 as the 10-Year Treasury yield ended at 3.04%, near the highest level in three and a half years. Early Tuesday, June Dow Jones futures are trading down 165 points. Asian markets are a little higher with Japan's Nikkei 225 index up 0.10% and China's Shanghai Composite Index up 0.17%. European markets are lower with the spot futures of the London FTSE 100 trading down 0.09%, spot futures of Germany's DAX trading down 0.87% and spot futures of France's CAC Index trading down 0.60%. The June euro is down $0.0012 at $1.0682. The June U.S. Dollar Index is up 0.22 at 102.67. The June 30-year T-bond is up 11/32nds, while June gold is up $5.50 at $1,849.20 and July crude oil is down $0.31 at $118.19. On China's Dalian exchange, September corn was down 0.2%, July soybeans were down 0.7%, September soybean meal was down 0.9% and September soybean oil was up 0.4%. June Malaysian palm oil is trading up 1.1%.