DTN Early Word Grains 04/10 05:48

DTN Early Word Grains 04/10 05:48 Grain Markets Higher Wednesday Morning, Rebounding After Poor Session Tuesday May corn is up 3 1/2 cents per bushel, May soybeans are up 4 1/4 cents, July KC wheat is up 11 1/4 cents, May Chicago wheat is up 7 1/2 cents and May Minneapolis wheat is up 7 1/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: May corn is up 3 1/2 cents per bushel, May soybeans are up 4 1/4 cents, July KC wheat is up 11 1/4 cents, May Chicago wheat is up 7 1/2 cents and May Minneapolis wheat is up 7 1/4 cents. CME GLOBEX RECAP: World equity markets are mixed Wednesday morning, with the U.S. and Europe trending higher while Asian markets are lower Wednesday morning. Traders remain focused on the CPI report that will be released Wednesday morning at 7:30 a.m. CDT. Expectations are for a 0.3% rise in the CPI for March, and a 3.4% rise from March of 2023. Wednesday morning, we will also see wholesale inventories which are expected to be up 0.5% and we will get a read on the federal budget for March which is expected to show a deficit of 220 billion dollars. Ultimately, traders are looking for clues as to the timing of the first rate cut from the Federal Reserve. Recent data has put a June rate cut in some jeopardy, but a lower-than-expected CPI reading could reassure traders that June will be the date. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 9.13 at 38,883.67 and the S&P 500 up 7.52 at 5,209.91, The 10-Year Treasury yield ended at 4.37%. Early Wednesday, the June Dow Jones Futures are up 39 points. European markets are higher with the spot futures of London's FTSE 100 trading up 0.6%, spot futures of Germany's DAX is trading up 0.65% and the spot futures of France's CAC 40 Index up 0.48%. Asian markets are lower with Japan's Nikkei 225 Index down 0.48% and China's Shanghai Composite Index down 0.7%.