DTN Early Word Grains 06/08 05:57

DTN Early Word Grains 06/08 05:57 More Bull Spreading in Corn, Soybeans Early Wednesday July corn was up 8 1/2 cents, July soybeans were up 20 cents and July KC wheat was up 7 cents. Todd Hultman DTN Lead Analyst PRE-6 a.m. GLOBEX PRICES: July corn was up 8 1/2 cents, July soybeans were up 20 cents and July KC wheat was up 7 cents. CME GLOBEX RECAP: Early Wednesday, U.S. stocks on the Dow Jones Industrials are trading lower after Treasury Secretary Janet Yellen described bad news to the Senate Finance committee Tuesday, an outlook of persistent inflation and slower economic growth. The Wall Street Journal also reported the World Bank lowered its estimate world economic growth from 5.7% in 2021 to 2.9% in 2022. At 9:30 a.m. CDT, the U.S Energy Department is likely to report another week of active ethanol production, currently running 8% higher than a year ago, so far. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average up 264.36 at 33,180.14 and the S&P 500 up 39.25 at 4,160.68 as the 10-Year Treasury yield ended at 2.97%, down from the highest level in three and a half years. Early Wednesday, June Dow Jones futures are trading down 177 points. Asian markets are higher with Japan's Nikkei 225 index up 1.04% and China's Shanghai Composite Index up 0.68%. European markets are slightly lower with the spot futures of the London FTSE 100 trading down 0.16%, spot futures of Germany's DAX trading down 0.27% and spot futures of France's CAC Index trading down 0.46%. The Sep euro is down $0.0029 at $1.0681. The Sep U.S. Dollar Index is up 0.39 at 102.72. The Sep 30-year T-bond is down 20/32nds, while August gold is down $2.30 at $1,849.80 and July crude oil is up $0.68 at $120.09. On China's Dalian exchange, September corn was up 0.3%, July soybeans were up 1.3%, September soybean meal was up 0.6% and September soybean oil was up 1.6%. June Malaysian palm oil is trading down 0.6%.