DTN Early Word Grains 05/01 06:05

DTN Early Word Grains 05/01 06:05 Grains Higher as Forecasts Remain Bleak July corn is up 3 cents per bushel, July soybeans are unchanged, and July K.C. wheat is up 3 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: July corn is up 3 cents per bushel, July soybeans are unchanged, and July K.C. wheat is up 3 cents. CME Globex Recap: Mostly quiet financial markets overnight as investors await the decision from the latest FOMC meeting. Expectations are almost unanimous the Fed will leave their interest rate policy unchanged this month. According to financial media, one of the major hang-ups to the trade agreement between the U.S. and China is post-agreement tariffs and the U.S.'s insistence on the ability to keep tariffs in place until the compliance mechanism can verify China is adhering to the agreement. This coupled with news about the Administration readying potential farm aid has raised fresh concerns about an agreement thought to be close at hand. Grain markets are mostly higher as weather and trade remain the primary drivers with planting progress all but stopped across the Midwest this week. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average up 38.52 at 26,592.91 and the S&P 500 up 2.80 at 2,943.03 while the 10-Year Treasury yield ended at 2.509%. Early Wednesday, the June DJIA futures are up 68 points. Asian markets are mixed with Japan's Nikkei 225 down 48.85 (-0.22%) and China's Shanghai Composite up 15.84 points (0.52%). European markets are mixed with London's FTSE 100 down 9.16 points (-0.12%), Germany's DAX up 16.06 points (0.13%) and France's CAC 40 up 5.43 points (0.1%). The June Euro is up 0.002 at 1.130 and the June U.S. dollar index is down 0.111 at 97.090. The June 30-Year T-Bond is up 7/32nds, while June gold is down $1.50 at $1,284.20 and June crude oil is down $0.22 at $63.69. Soybeans on China's Dalian Exchange were down -0.49% while soybean meal was down -0.8%.