DTN Early Word Grains 06/09 05:56

DTN Early Word Grains 06/09 05:56 Grains Weak Overnight, Giving Back Wednesday Gains July corn is down 4 1/4 cents per bushel, July soybeans are down 6 3/4 cents, and July KC wheat is down 10 1/4 cents. Tregg Cronin DTN Contributing Analyst PRE-6 a.m. GLOBEX PRICES: July corn is down 4 1/4 cents per bushel, July soybeans are down 6 3/4 cents, and July KC wheat is down 10 1/4 cents. CME GLOBEX RECAP: Mixed to weaker equity markets globally overnight although U.S. futures are pointed at a higher open later Thursday morning. Markets are looking ahead to key inflation data to be released in the U.S. on Friday. The consumer price index for May is expected to come in at +8.3%, the same annual rate notched in May. Energy prices are mixed overnight with crude and heating oil lower while gasoline trades slightly higher. Natural gas has enjoyed an especially volatile couple of days with trade up to multi-year highs Wednesday before collapsing late and again overnight on news of an LNG export facility explosion. The U.S. Dollar Index is slightly weaker overnight but mostly inside its recent range. Metals are weaker overnight. Grains are weaker across the board ahead of export sales and the June WASDE on Friday. Between USDA reports and weather, there is an incredible amount of volatility to navigate the next 20-days. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 269.24 at 32,910.90 and the S&P 500 down 44.91 at 4,160.68 while the 10-Year Treasury yield ended at 3.029%. Early Thursday, the June DJIA futures are up 163 points. Asian markets are mixed with Japan's Nikkei 225 up 12.24 (0.04%) and China's Shanghai Composite down 24.84 points (-0.76%). European markets are lower with London's FTSE 100 down 33.54 points (-0.44%), Germany's DAX down 94.11 points (-0.65%) and France's CAC 40 down 21.25 points (-0.27%). The June Euro is steady at 1.070 and the June U.S. Dollar Index is down 0.111 at 102.435. The September 30-Year T-Bond is up 9/32nds, while August gold is down $4.80 at $1,851.70 and July crude oil is down $0.35 at $121.76. Corn on China's Dalian Exchange was down 0.66% while soybeans were up 0.41% and soybean meal was up 1.45%.