DTN Grain Open: Wheat Higher as Southern Temperatures Heat Up

Pre-6 a.m. Globex Prices: July corn is up 1 3/4 cents, July soybeans are down 1/4 cent and July KC wheat is up 6 1/2 cents.

CME Globex Recap: After a three-day run of higher prices, Dow Jones futures are trading lower early Thursday along with European stock markets. Wednesday’s higher close in the Dow was helped by a report from ADP that showed much lower U.S. private sector job losses than were expected ahead of Friday’s U.S. unemployment report. The June U.S. Dollar Index is trading higher, countering its losing trend of the past five days.

OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average up 527.24 at 26,269.89 and the S&P 500 up 42.05 at 3,122.87 while the 10-Year Treasury yield ended at 0.76%. Early Thursday, June Dow Jones futures are down 129 points.

Asian markets are mixed with Japan’s Nikkei 225 up 81.98 points (0.4%) and China’s Shanghai Composite down 4.12 points (-0.1%). European markets are lower with London’s FTSE 100 down 12.43 points (-0.2%), Germany’s DAX down 74.19 points (-0.6%) and France’s CAC 40 down 18.63 points (-0.4%).

The June euro is down $.0039 at $1.1202. The June U.S. dollar index is up 0.32 at 97.58. The June 30-year T-bond is up 11/32nds, while August gold is up $6.50 at $1,711.30 and July crude oil is down $0.74 at $36.55. Soybeans are lower on China’s Dalian Exchange, while soybean meal prices are modestly higher. July palm oil is trading down 2.3%, pulling back from Wednesday’s new two-month high.

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