DTN Early Word Grains 05/08 05:58

DTN Early Word Grains 05/08 05:58 Grains Mixed in Lead Up to Trade Negotiations, May WASDE July corn is up 1 1/2 cents per bushel, July soybeans are up 3 cents, and July K.C. wheat is down 1/2 cent. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: July corn is up 1 1/2 cents per bushel, July soybeans are up 3 cents, and July K.C. wheat is down 1/2 cent. CME Globex Recap: Recap: Financial markets are weaker again Wednesday as the U.S. and China barrel towards a showdown Friday. With volatility indices rising, it would seem investors are positioning for a no-deal and additional tariffs will be put in place on both sides. It would seem unlikely China would bend to U.S. demands a week after reportedly "reneging" on previous commitments. Grains are mixed as the space has a double whammy of trade-war tension and the first WASDE report detailing the 2019-20 balance sheets on Friday morning. Difficult to say what our markets are paying most attention to, although planting weather does look like it will improve for the entire Midwest next week. With farmers raring to go, a gigantic single-week progress number could be at hand next week. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average down 473.39 at 25,965.09 and the S&P 500 down 48.42 at 2,932.47 while the 10-year Treasury yield ended at 2.448%. Early Wednesday, the June DJIA futures are down 71 points. Asian markets are lower with Japan's Nikkei 225 down 321.13 (-1.46%) and China's Shanghai Composite down 32.63 points (-1.12%). European markets are lower with London's FTSE 100 down 15.09 points (-0.21%), Germany's DAX up 24.96 points (0.21%) and France's CAC 40 up 2.31 points (0.04%). The June euro is up 0.001 at 1.120 and the June U.S. dollar index is down 0.114 at 97.285. The June 30-year T-Bond is up 3/32nds, while June gold is up $3.40 at $1,289.00 and June crude oil is down $0.19 at $61.21. Soybeans on China's Dalian Exchange were up 0.12% while soybean meal was up 0.04%.