DTN Early Word Grains 05/02 05:58

DTN Early Word Grains 05/02 05:58 Mixed Ag Markets on Weather, Trade and On-Farm Supplies July corn is up 1 cent per bushel, July soybeans are down 2 1/4 cents, and July K.C. wheat is up 1 cent. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: July corn is up 1 cent per bushel, July soybeans are down 2 1/4 cents, and July K.C. wheat is up 1 cent. CME Globex Recap: Another day, another report the U.S. and China are "close" to striking a deal to end the trade war. Reports Wednesday suggested the two sides would "immediately" remove a 10% tariff on a portion of the $200 billion worth of Chinese imports when a deal is signed which is expected to be late next week. A 25% tariff on roughly $50 billion in Chinese goods would stay in place until after the 2020 election, however. Our markets have learned their lesson with getting too optimistic in the past, so it is likely traders will remain reserved until more details are released. Higher grains and weaker soybeans Thursday morning as markets grapple with the wet forecast but ample farmer grain supplies which have a closing window to move in an orderly fashion. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average down 162.77 at 26,430.14 and the S&P 500 down 22.10 at 2,945.83 while the 10-Year Treasury yield ended at 2.511%. Early Thursday, the June DJIA futures are up 62 points. Asian markets are closed. European markets are higher with London's FTSE 100 up 7.97 points (0.11%), Germany's DAX up 52.45 points (0.42%) and France's CAC 40 down 14.78 points (-0.26%). The June Euro is up 0.001 at 1.120 and the June U.S. dollar index is down 0.085 at 97.325. The June 30-Year T-Bond is down 5/32nds, while June gold is down $12.10 at $1,272.10 and June crude oil is down $0.87 at $62.73. The Dalian Exchange was closed for holiday.