DTN Early Word Grains 05/09 06:02

DTN Early Word Grains 05/09 06:02 Grains Weaker as Forecast Improves and Tariffs Are Readied July corn is down 3 1/4 cents per bushel, July soybeans are down 4 cents, and July K.C. wheat is down 3 1/2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: July corn is down 3 1/4 cents per bushel, July soybeans are down 4 cents, and July K.C. wheat is down 3 1/2 cents. CME Globex Recap: Equities are weaker around the globe again Thursday as additional tweets by President Trump on Wednesday seemed to muddy the waters further. President Trump tweeted that China "broke the deal" while China said it would retaliate with "necessary countermeasures" if the U.S. raises tariffs. It would seem unlikely China would be willing to negotiate or accept a trade deal with a proverbial gun to its head in the form of additional tariffs, but nothing can be ruled out ahead of Friday. Grain markets are weaker across the board with better weather forecasts across the Midwest next week while trepidation exists ahead of the May WASDE Friday. The supply situation should look big for U.S. crops on Friday as the USDA will not take into account any flooding or prevent planting. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average up 2.24 at 25,967.33 and the S&P 500 down 4.63 at 2,884.05 while the 10-year Treasury yield ended at 2.482%. Early Thursday, the June DJIA futures are down 205 points. Asian markets are lower with Japan's Nikkei 225 down 200.46 (-0.93%) and China's Shanghai Composite down 42.8 points (-1.48%). European markets are lower with London's FTSE 100 down 19.69 points (-0.27%), Germany's DAX down 76.97 points (-0.63%) and France's CAC 40 down 61 points (-1.13%). The June euro is down 0.000 at 1.120 and the June U.S. dollar index is down 0.018 at 97.370. The June 30-year T-Bond is up 15/32nds, while June gold is up $3.50 at $1,284.90 and June crude oil is down $0.34 at $61.78. Soybeans on China's Dalian Exchange were up 0.88% while soybean meal was up 1.3%.