DTN Grain Open: Spring Finds Markets Slightly Higher
6:00 a.m. CME Globex: May corn was up 2 cents, May soybeans were up 6 cents, and May Chicago wheat was up 3 3/4 cents.
CME Globex Recap: Corn, soybeans, and wheat are all starting higher Monday after the southwestern Plains endured a hot, windy weekend. Friday’s CFTC data showed reductions in net long positions for row crops, possibly easing some of the bearish pressure.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed down 19.93 points at 20,914.62. The NASDAQ Composite was up 0.24 points at 5,901.00 and the S&P 500 was down 3.13 points at 2,378.25 Friday. DJIA futures were down 30 points early Monday morning.
Asian markets were mixed with Japan’s Nikkei down 68.55 points (-0.3%), Hong Kong’s Hang Seng up 192.06 points (0.8%), and China’s Shanghai Composite up 13.36 points (0.4%). European markets were lower Monday with London’s FTSE 100 down 16.70 points (-0.2%), Germany’s DAX down 38.11 points (-0.3%), and France’s CAC 40 down 18.06 points (-0.4%).
The U.S. dollar index was down 0.11 at 100.20 while the June euro was up 0.00195 at 1.08100. June 30-year T-Bonds were up 1/32nd at 148’15 while April gold was up $1.90 at $1,232.10. May crude oil was down $0.62 at $48.69 while Brent crude was down $0.60 at $51.16. Soybeans at the Dalian Exchange are steady to higher overnight and Malaysian palm oil futures are down 0.8%.
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