DTN Early Word Grains 05/01 05:40

DTN Early Word Grains 05/01 05:40 Wheat Prices Lower to Start Trade in May July corn is down 1 cent, July soybeans are up 2 cents and July KC wheat is down 12 cents. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is down 1 cent, July soybeans are up 2 cents and July KC wheat is down 12 cents. CME GLOBEX RECAP: Early Monday, U.S. stock futures are starting unchanged with markets closed in Europe to start the month of May. Early Monday, the Wall Street Journal reported federal regulators took control of the troubled First Republic Bank and sold assets to JPMorgan Chase and Company in an arrangement in which JPMorgan and the FDIC shared the bank's losses. Depositors are expected to have access to their funds on Monday. An index of manufacturing in India, showed strong expansion in April, while China showed contraction. USDA's weekly report of export inspections is due at 10 a.m. CDT. At 2 p.m., NASS's Fats and Oils report will be out, followed by Crop Progress at 3 p.m. Monday's earnings reports include Pfizer and Starbucks. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 272.00 at 34,098.16 and the S&P 500 Index up 34.13 at 4,169.48. The 10-Year Treasury yield ended at 3.45%. Early Monday, June Dow Jones futures are steady. European markets are steady to higher with the spot futures of the London FTSE 100 trading unchanged, spot futures of Germany's DAX trading up 0.63% and spot futures of France's CAC Index trading up 0.22%. Japan's Nikkei 225 index is up 0.92%. Markets in China and Malaysia are closed for holiday.