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DTN Grain Open: Moving Mostly Higher

Ernst Undesser
By Darin Newsom DTN Senior Analyst June 16, 2017

DTN Grain Open: Moving Mostly Higher

6:00 a.m. CME Globex: December corn was fractionally lower, November soybeans were 2 cents higher, and July Kansas City (HRW) wheat was 6 cents higher.

CME Globex Recap: Grain markets mostly resumed this week’s trek higher, continuing to be led by Minneapolis spring wheat. The only laggard was corn with contracts near unchanged to fractionally lower as of this writing.

Outside markets were generally higher as crude oil stabilizes and gold tries to recover some of Thursday’s sharp loss. The U.S. dollar index eased lower while DJIA futures rallied overnight.

OUTSIDE MARKETS: The Dow Jones Industrial Average closed 14.66 points lower at 21,359.90, the NASDAQ Composite lost 29.39 points (0.5%) to 6,165.50, and the S&P 500 dipped 5.46 points (0.2%) to 2,432.46 Thursday. DJIA futures were 22 points higher early Friday morning.

Asian markets closed mostly higher with Japan’s Nikkei up 111.44 points (0.6%), Hong Kong’s Hang Seng gaining 61.15 points (0.2%), and China’s Shanghai Composite down 9.32 points (0.3%). European markets were trading higher with London’s FTSE 100 up 52.37 points (0.7%), Germany’s DAX gaining 38.78 points (0.3%), and France’s CAC 40 adding 30.21 points (0.6%).

The euro was 0.0027 higher at 1.1172 while the U.S. dollar index was 0.10 lower at 97.37. September 30-year T-Bonds were 1/32 lower at 155’14 while August gold rallied $3.20 to $1,257.80. Crude oil was $0.19 higher at $44.65 while Brent crude gained $0.34 to $47.26. China’s Dalian soybean futures were mostly higher while Malaysian palm oil futures were higher again overnight.

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Ernst Undesser
By Darin Newsom DTN Senior Analyst June 16, 2017