DTN Early Word Grains 04/28 05:59

DTN Early Word Grains 04/28 05:59 Grains Encounter Resistance, Starting Lower July corn is down 20 cents, July soybeans are down 24 1/4 cents and July KC wheat is down 21 3/4 cents. Todd Hultman DTN Lead Analyst Pre-6 a.m. Globex Prices: July corn is down 20 cents, July soybeans are down 24 1/4 cents and July KC wheat is down 21 3/4 cents. CME Globex Recap: Early Wednesday, Dow Jones futures are starting lower, in spite of higher stock prices in Europe and Asia. The Federal Reserve is expected to keep the federal funds target near zero early Wednesday afternoon. June crude oil is slightly higher after OPEC and other oil producers agreed on Tuesday to stick to their plan to gradually increase production from May to July. They see world demand increasing, even while India struggles with rising coronavirus infections. According to Reuters, India's death toll exceeded 200,000 on Wednesday, a new record high. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average up 3.36 at 33,984.93 and the S&P 500 down 0.90 at 4,186.72 while the 10-Year Treasury yield ended at 1.62%. Early Wednesday, June Dow Jones futures are down 42 points. Asian markets are higher with Japan's Nikkei 225 index up 0.21% and China's Shanghai Composite Index up 0.42%. European markets are modestly higher with the spot futures of the London FTSE 100 trading up 0.44%, spot futures of Germany's DAX trading up 0.28% and spot futures of France's CAC Index trading up 0.38%. The June euro is down $0.0016 at $1.2083. The June U.S. Dollar Index is up 0.11 at 91.01. The June 30-year T-bond is down 13/32nds, while June gold is down $12.50 at $1,766.30 and June crude oil is up $0.09 at $63.03. On China's Dalian exchange, September corn was down 0.2%, July soybeans were down 1.3%, September soybean meal was down 1.4% and September soybean oil was down 0.1%. July common wheat on China's Zhengzhou exchange was down 0.0%. June Malaysian palm oil is trading down 2.8%.