6:00 a.m. CME Globex: May corn is up 1 3/4 cents per bushel, May soybeans are up 3 1/4 cents, and May K.C. wheat is down 3 cents.
CME Globex Recap: Mixed equities around the globe Monday morning as import and export data out of China show a mixed bag in the world’s second largest economy. Chinese exports in March grew by 14.2% from a year earlier and up sharply from February’s 20.8% contraction. Imports fell 7.6% from a year ago, however, the fourth consecutive month of contraction.
The U.S. has also agreed to face repercussions if it fails to live up to its side of the U.S.-China trade deal as both sides have now agreed to a dual enforcement mechanism. This should keep the deal moving forward and a larger agreement likely in coming weeks.
Grains are mostly higher except for winter wheat as early season conditions remain strong in the southern plains. Still no planting progress expected this week across the Midwest as wet weather and below normal temperatures persist.
OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average up 269.25 at 26,412.30 and the S&P 500 up 19.09 at 2,888.32 while the 10-Year Treasury yield ended at 2.56%. Early Monday, the June DJIA futures are up 46 points.
Asian markets are mixed with Japan’s Nikkei 225 up 298.55 (1.37%) and China’s Shanghai Composite down 10.84 points (-0.34%). European markets are lower with London’s FTSE 100 down 3.08 points (-0.04%), Germany’s DAX down 8.07 points (-0.07%) and France’s CAC 40 up 2.62 points (0.05%).
The June Euro is up 0.002 at 1.140 and the June U.S. dollar index is down 0.133 at 96.465. The June 30-Year T-Bond is down 1/32nds, while June gold is down $5.20 at $1,290.00 and May crude oil is down $0.57 at $63.32. Soybeans on China’s Dalian Exchange were up 0.36% while soybean meal was up 0.52%.