DTN Grain Open: Rally Continues Early

Young corn rows. ©Debra L Ferguson

6:00 a.m. CME Globex: July corn is up 7 3/4 cents, July soybeans are up 10 3/4 cents and Juy KC wheat is up 5 3/4 cents.

CME Globex Recap: Dow Jones futures are starting a little lower early Wednesday and the June U.S. dollar index is a little higher. Except for energies, most commodities are trading higher at the start of what is likely to be a quiet news day.

OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 207.06 at 25532.05 and the S&P 500 up 22.54 at 2,834.41, while the 10-yr Treasury yield ended at 2.542%. Early Wednesday, DJIA futures are down 57 points.

Asian markets are higher with Japan’s Nikkei 225 up 121.33 (0.6%) and China’s Shanghai Composite up 55.07 points (1.9%). European markets are mostly lower with London’s FTSE 100 up 16.41 points (0.2%), Germany’s DAX down 16.27 points (-0.1%), and France’s CAC 40 down 16.10 points (-0.3%).

The June Euro is unchanged at $1.124 and the June U.S. dollar index is down 0.04 at 97.28. The June 30-Year T-Bond is up 16/32nds, while June gold is up $3.00 at $1,299.30 and June crude oil is down $0.50 at $61.28. Soybeans and meal on China’s Dalian Exchange were both showing small gains.

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