DTN Early Word Grains 06/16 05:57

DTN Early Word Grains 06/16 05:57 Grains Stabilize as Macro Weakness Continues July corn is up 1 cent per bushel, July soybeans are down 1 1/4 cents, and July KC wheat is down 1 1/4 cents. Tregg Cronin DTN Contributing Analyst PRE-6 a.m. GLOBEX PRICES: July corn is up 1 cent per bushel, July soybeans are down 1 1/4 cents, and July KC wheat is down 1 1/4 cents. CME GLOBEX RECAP: Heavy selling in equity markets overnight with U.S. futures suggesting a sharply lower open later Thursday morning. After getting the interest rate increase the market wanted Wednesday, stocks seemed to be relieved. That is proving short lived with Dow futures 600 points lower at this writing. Energy prices are also heavy with crude oil down 1.0% and heating oil down over 2.0%. The U.S. Dollar Index is weaker and looking to close lower for the second session in a row. Metals are mixed with gold and silver just barely higher while copper is weak, down 1.7%. Grains are trading mixed Thursday morning but the soy complex continues to feel the brunt of the macro weakness. These outflow events are usually multi-day and last longer than the trade deems necessary. Strap in for more volatility. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average up 303.70 at 30,668.53 and the S&P 500 up 54.51 at 3,735.48 while the 10-Year Treasury yield ended at 3.395%. Early Thursday, the September DJIA futures are down 588 points. Asian markets are mixed with Japan's Nikkei 225 up 105.04 (0.4%) and China's Shanghai Composite down 20.02 points (-0.61%). European markets are lower with London's FTSE 100 down 183.32 points (-2.52%), Germany's DAX down 375.76 points (-2.79%) and France's CAC 40 down 134.88 points (-2.24%). The September Euro is down 0.003 at 1.050 and the September U.S. Dollar Index is down 0.085 at 104.850. The September 30-Year T-Bond is down 19/32nds, while August gold is up $2.90 at $1,822.50 and July crude oil is down $1.21 at $114.10. Corn on China's Dalian Exchange was up 0.24% while soybeans were down 0.59% and soybean meal was down 0.17%.