DTN Grain Open: Markets Try Higher Early Start

On-farm grain bin system. ©Debra L Ferguson

Pre-6:00 a.m. CME Globex: March corn is up 2 1/4 cents, March soybeans are up 4 1/4 cents, and March K.C. wheat is up 3 1/2 cents.

CME Globex Recap: Currency markets are roughly steady, including the U.S. dollar after the U.K.’s Brexit proposal failed and Prime Minister May now faces a vote of confidence. European stock markets are mixed and the Dow Jones futures are a little higher early with most of the commodity board returning to green early Wednesday.

OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 155.75 at 24,065.59 and the S&P 500 up 27.69 at 2,610.30 while the 10-yr Treasury yield ended at 2.71%. Early Wednesday, DJIA futures are up 32 points.

Asian markets are mostly lower with Japan’s Nikkei 225 down 112.54 (-0.5%) and China’s Shanghai Composite up 0.08 points (0.3%). European markets are higher with London’s FTSE 100 down 33.17 points (-0.5%), Germany’s DAX down 8.60 points (-0.08%), and France’s CAC 40 up 9.34 points (0.2%).

The March euro was steady at 1.146 and the March U.S. dollar index was down 0.01 at 95.66. March 30-year T-Bonds were down 20/32nds while February gold was up $0.70 at $1289.10 and February crude oil was down $0.16 at $51.95. Soybeans on China’s Dalian Exchange were down 1% while soymeal was down 1.0%.

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