6:00 a.m. CME Globex: July corn is up 5 3/4 cents, July soybeans are up 5 1/4 cents and Juy KC wheat is up 6 3/4 cents.
CME Globex Recap: Dow Jones futures are starting a little higher early Thursday, even though European markets are modestly lower. The June U.S. dollar index is quiet and most other commodities are mixed. Corn remains the bullish instigator among crop prices with serious planting challenges in May.
OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average up 115.97 at 25,648.02 and the S&P 500 up 16.55 at 2,850.96, while the 10-yr Treasury yield ended at 2.38%. Early Thursday, DJIA futures are up 87 points.
Asian markets are mixed with Japan’s Nikkei 225 down 125.58 (-0.6%) and China’s Shanghai Composite up 17.03 points (0.6%). European markets are lower with London’s FTSE 100 down 9.36 points (-0.1%), Germany’s DAX down 12.37 points (-0.1%), and France’s CAC 40 down 13.85 points (-0.3%).
The June Euro is unchanged at $1.124 and the June U.S. dollar index is down 0.04 at 97.33. The June 30-Year T-Bond is up 8/32nds, while June gold is down $2.00 at $1,295.80 and June crude oil is up $0.46 at $62.48. Soybeans and meal on China’s Dalian Exchange were both showing modest gains.