DTN Grain Open: Trade Mostly Lower

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

CME Globex Recap: The grain and oilseed complex was mostly loser early Tuesday morning, with winter wheat markets posting the largest loss. Corn, soybeans, and spring wheat were within fractions of Monday’s close after most contracts posted narrow trading ranges. Kansas City and Chicago wheat, though, were down 5 cents and 3 cents respectively. Metals and energies were mostly higher, the latter following through on activity seen late in Monday’s session.

OUTSIDE MARKETS: The Dow Jones Industrial Average closed 14.25 points (0.1%) lower at 24,448.69, the NASDAQ Composite lost 17.53 points (0.2%) to 7,128.60, and the S&P 500 rallied 0.15 point to 2,670.29 Monday. DJIA futures were 108 points higher early Tuesday morning.

Asian markets closed higher with Japan’s Nikkei 225 up 190.08 points (0.9%), Hong Kong’s Hang Seng gaining 381.84 points (1.3%), and China’s Shanghai Composite adding 60.92 points (2.0%). European markets were trading mostly higher with London’s FTSE 100 up 22.42 points (0.3%), Germany’s DAX gaining 40.18 points (0.3%), and France’s CAC 40 off 4.66 points (0.1%).

The euro was 0.0006 higher at 1.2214 while the U.S. dollar index slipped 0.05 to 90.88. June 30-year T-Bonds were 5/32 higher at 143’04 while June gold gained $4.90 to $1,328.90. Crude oil was $0.41 higher at $69.05 as Brent crude rallied $0.25 to $74.96. China’s Dalian soybean and Malaysian palm oil futures were both lower again overnight.

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