DTN Early Word Grains 06/10 05:57

DTN Early Word Grains 06/10 05:57 Grains Mostly Lower Ahead of June WASDE July corn is down 5 cents per bushel, July soybeans are down 7 3/4 cents, and July KC wheat is down 3 1/4 cents. Tregg Cronin DTN Contributing Analyst PRE-6 a.m. GLOBEX PRICES: July corn is down 5 cents per bushel, July soybeans are down 7 3/4 cents, and July KC wheat is down 3 1/4 cents. CME GLOBEX RECAP: Global equity markets are weaker overnight with U.S. futures soft ahead of key inflation data to be released later Friday morning. The May Consumer Price Index is expected to show an +8.3% increase from a year ago, matching the April figure and keeping heat on the Federal Reserve to raise interest rates and bring down inflation. Energy markets are higher overnight with heating oil knocking on new highs for the move. The U.S. Dollar Index is firmer overnight, maintaining a short-term trend higher but still below the May highs. Metals are all weaker overnight. Grain markets are mostly lower overnight except for Minneapolis Wheat which is just above unchanged. Markets should move past the June WASDE fairly quickly and return to trading weather and Ukraine-Russia headlines. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average down 638.11 at 32,272.79 and the S&P 500 down 97.95 at 4,115.77 while the 10-Year Treasury yield ended at 3.044%. Early Friday, the June DJIA futures are down 84 points. Asian markets are mixed with Japan's Nikkei 225 down 422.24 (-1.49%) and China's Shanghai Composite up 45.88 points (1.42%). European markets are lower with London's FTSE 100 down 87.36 points (-1.17%), Germany's DAX down 205.1 points (-1.44%) and France's CAC 40 down 91.36 points (-1.44%). The June Euro is down 0.003 at 1.060 and the June U.S. Dollar Index is up 0.207 at 103.425. The September 30-Year T-Bond is up 11/32nds, while August gold is down $7.30 at $1,845.50 and July crude oil is up $0.91 at $122.42. Corn on China's Dalian Exchange was down -0.59% while soybeans were down -0.07% and soybean meal was up 0.65%.