DTN Early Word Grains 05/03 05:30

DTN Early Word Grains 05/03 05:30 Row Crops Lower Ahead of Wednesday's Expected Rate Hike July corn is down 7 cents, July soybeans are down 10 cents and July KC wheat is steady. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is down 7 cents, July soybeans are down 10 cents and July KC wheat is steady. CME GLOBEX RECAP: Early Wednesday, U.S. stock futures are starting a little higher with encouragement from higher trading in Europe. According to RTTNews.com, the Euro zone's March unemployment rate improved from 6.6% in February to 6.5% in March. The U.S. Energy Department's weekly report of energy inventories, including ethanol production is set for 9:30 a.m. CDT Wednesday. The Federal Reserve concludes a two-day meeting and is widely expected to raise the federal funds target by a quarter-percent to an upper limit of 5.25% at 1 p.m. Wednesday's earnings reports include Bunge, Phillips 66, Corteva, Kraft Heinz, Louisiana-Pacific and Mosaic. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 367.17 at 33,684.53 and the S&P 500 Index down 48.29 at 4,119.58. The 10-Year Treasury yield fell to 3.44%. Early Wednesday, June Dow Jones futures are up 40 points. European markets are higher with the spot futures of the London FTSE 100 trading up 0.21%, spot futures of Germany's DAX trading up 0.64% and spot futures of France's CAC Index trading up 0.68%. Markets in Japan and China are closed for holiday.