DTN Early Word Grains 03/28 05:47

DTN Early Word Grains 03/28 05:47 Wheat and Corn Slightly Higher Ahead of USDA Acreage and Stocks Estimates May corn is up 3/4 cent per bushel, May soybeans are down 3 3/4 cents, May KC wheat is up 1 1/4 cents, May Chicago wheat is up 1/4 cent and May Minneapolis wheat is down 3/4 cent. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: May corn is up 3/4 cent per bushel, May soybeans are down 3 3/4 cents, May KC wheat is up 1 1/4 cents, May Chicago wheat is up 1/4 cent and May Minneapolis wheat is down 3/4 cent. CME GLOBEX RECAP: World equity markets are mixed but mostly higher in Europe as those markets are catching up to a very strong session in the U.S. on Wednesday. After a three-day correction, the Dow Jones retested its lifetime highs while the S&P 500 posted a new high lifetime close. There was not any new economic data that was released, but traders are continuing to point to dovish comments from Federal Reserve members and are anticipating that rate cuts will begin as soon as June. On Friday, the Personal Consumption Expenditure index (PCE) will be released. This is the Fed's preferred inflation indicator, and as such will be closely watched by traders. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average up 477.75 at 39,760.08 and the S&P 500 up 44.91 at 5,248.49, The 10-Year Treasury yield ended at 4.20%. Early Thursday, the June Dow Jones Futures are down 9 points. European markets are higher with the spot futures of London's FTSE 100 trading up 0.5%, spot futures of Germany's DAX is trading up 0.17% and the spot futures of France's CAC 40 Index up 0.56%. Asian markets are mixed with Japan's Nikkei 225 Index down 1.46% and China's Shanghai Composite Index up 0.59%.