DTN Early Word Grains 06/22 05:54

DTN Early Word Grains 06/22 05:54 Soybean Oil Lower, Grain Prices Mixed Early Wednesday July corn was up 1 cent, July soybeans were down 14 cents and July KC wheat was up 8 cents. Todd Hultman DTN Lead Analyst PRE-6 a.m. GLOBEX PRICES: July corn was up 1 cent, July soybeans were down 14 cents and July KC wheat was up 8 cents. CME GLOBEX RECAP: Early Wednesday, U.S. stocks on the Dow Jones Industrials are trading lower, giving back over half of Tuesday's 641-point gain as investors remain nervous about rising interest rates and talk of recession. Federal Reserve Chairman will deliver his semiannual report to the Senate Banking Committee Wednesday and is likely to make more hawkish comments. August crude oil is trading at its lowest prices in a month with several media sources reporting President Joe Biden is considering a three-month suspension of gasoline taxes. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average up 641.47 at 30,530.25 and the S&P 500 up 89.95 at 3,764.79 as the 10-Year Treasury yield ended at 3.31%, near the highest level in three and a half years. Early Wednesday, June Dow Jones futures are trading down 355 points. Asian markets are lower with Japan's Nikkei 225 index down 0.37% and China's Shanghai Composite Index down 1.20%. European markets are lower with the spot futures of the London FTSE 100 trading down 1.23%, spot futures of Germany's DAX trading down 2.19% and spot futures of France's CAC Index trading down 1.80%. The Sep euro is down $0.0023 at $1.0575. The Sep U.S. Dollar Index is up 0.20 at 104.41. The Sep 30-year T-bond is up 1 12/32nds, while August gold is down $12.20 at $1,826.60 and August crude oil is down $5.23 at $104.29. On China's Dalian exchange, September corn was down 0.8%, July soybeans were down 1.2%, September soybean meal was down 0.7% and September soybean oil was down 2.5%. September Malaysian palm oil is trading down 9.7%.