DTN Grain Open: Moderate Overnight Strength

Photo: Ohio State University

6:00 a.m. CME Globex: July corn was 1 cent higher, July soybeans were 3 cents higher, and July Kansas City (HRW) wheat was 5 cents higher.

CME Globex Recap: For those of you here in the United States, don’t forget that this particular Turnaround Tuesday is also Tax Day. The grain and oilseed complex found some buyers overnight, despite a slight rally by the U.S. dollar index. Some markets haven’t turned around from Monday, yet, with DJIA futures posting another triple-digit gain and the energy complex edges lower.

OUTSIDE MARKETS: The Dow Jones Industrial Average closed 212.90 points (0.9%) higher at 24,573.04, the NASDAQ Composite gained 49.63 points (0.7%) to 7,156.28, and the S&P 500 rallied 21.54 points (0.8%) to 2,677.84 Monday. DJIA futures were 127 points higher early Tuesday morning.

Asian markets closed mostly lower with Japan’s Nikkei 225 up 12.06 points, Hong Kong’s Hang Seng down 252.84 points (0.8%), and China’s Shanghai Composite losing 43.86 points (1.4%). European markets were trading mostly higher with London’s FTSE 100 up 14.16 points (0.2%), Germany’s DAX gaining 98.41 points (0.8%), and France’s CAC 40 up 23.30 points (0.4%).

The euro was 0.0008 lower at 1.2372 while the U.S. dollar index added 0.05 to 89.49. June 30-year T-Bonds were 3/32 lower at 145’12 while June gold dropped $5.90 to $1,344.80. Crude oil was $0.07 lower at $66.15 as Brent crude slipped $0.11 to $71.31. China’s Dalian soybean futures were lower and Malaysian palm oil futures were higher overnight.

The Latest