DTN Early Word Grains 06/24 05:57

DTN Early Word Grains 06/24 05:57 Grain Prices Find Early Support Friday After Bearish Week December corn was up 8 cents, November soybeans were up 1 cent and September KC wheat was up 11 cents. Todd Hultman DTN Lead Analyst PRE-6 a.m. GLOBEX PRICES: December corn was up 8 cents, November soybeans were up 1 cent and September KC wheat was up 11 cents. CME GLOBEX RECAP: Early Friday, U.S. stocks on the Dow Jones Industrials are trading higher, in line with higher trade in both Asia and Europe. According to the Wall Street Journal, signs of economic slowing are leading to expectations for smaller rate hikes ahead. Several sources, including the Journal, are reporting Ukrainian forces are ceding control of Severodonetsk to the Russian military after constant shelling destroyed 80% of vital infrastructure. Friday morning, USDA will provide weekly export sales data and Friday afternoon, USDA's cattle on-feed report for June 1 is expected to show 11.9 million head of cattle on feed, up 1.5% from a year ago. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average up 194.23 at 30,677.36 and the S&P 500 up 35.84 at 3,795.73 as the 10-Year Treasury yield ended at 3.07%, down from the highest level in three and a half years. Early Friday, June Dow Jones futures are trading up 217 points. Asian markets are higher with Japan's Nikkei 225 index up 1.23% and China's Shanghai Composite Index up 0.89%. European markets are higher with the spot futures of the London FTSE 100 trading up 1.16%, spot futures of Germany's DAX trading up 0.26% and spot futures of France's CAC Index trading up 1.39%. The September euro is up $0.0022 at $1.0606. The September U.S. Dollar Index is down 0.18 at 104.01. The September 30-year T-bond is down 9/32nds, while August gold is down $2.00 at $1,827.80 and August crude oil is up $0.73 at $105.00. On China's Dalian exchange, September corn was down 1.4%, July soybeans were down 2.3%, September soybean meal was down 2.7% and September soybean oil was down 1.0%. September Malaysian palm oil is trading down 2.9%.